Category: Pan Card

With effect from 1 January 2016, you would have to furnish your Permanent Account Number (PAN) for all transactions above Rs 2 lakhs, irrespective of the mode of payment adopted. This decision by the Indian Finance Ministry is a relaxation from the initial proposal made by Arun Jaitley during the 2015-16 Budget, wherein he motioned...

PAN card is a government-issued photo ID proof meant for identifying various tax paying entities of India. PAN stands for Permanent Account Number, which is a computer-generated unique identification number against which all tax-related information associated with a particular person is recorded. No two people can have the same PAN, and this number remains valid...

हिंदी में पढ़ें PAN (Permanent Account Number) is a 10-digit alphanumeric identity allotted by the Income Tax Department to all judicial entities identifiable under the Income Tax Act, 1961. It is unique to each individual and can be used by them as proof of identity. As per the law, one assessee is allowed to possess...

Central Board of Direct Taxes (CBDT) has confirmed that it is not going to extend the deadline for linking PAN with Aadhaar card. The current deadline is set at March 31st, 2021. Beyond this date, all PAN cards not linked with Aadhaar would likely be deactivated and people using a deactivated PAN for regular transactions…

हिंदी में पढ़ें A common misconception surrounding PAN card is that it is required only by those who earn through a job or business. However, it is required by every individual at some point in their life even if they are not earning. Other than being used for filing income tax returns, PAN has several...

The central government has deactivated around 11.44 lakh fake PAN cards by 27 Jul, 2017, according to reports. As per the rules, no person or an entity can have two PAN (Permanent Account Number) cards. The list of deactivated PAN cards also contains those PAN cards that were allotted to non-existent individuals or entities. A...

PAN (Permanent Account Number) is a unique 10-character code assigned to each entity carrying out financial activities in India. It also acts as a valid proof of identity for various purposes such as all financial transactions above ₹ 50,000, mutual fund investments, buying properties and other such activities. Are there incorrect details in your PAN…

When you change your permanent address or move out of one state to work or set up your business in another state, you have to update your address in all government documents such as Aadhaar card, driving license, voter ID card, ration card, etc. Updating address in PAN is not required as it is automatically...