An assessee may have been allotted multiple PAN Card. The multiple PAN card may have been allotted to the Assessee for many reasons i.e. he may have applied multiple times for allotment of PAN and every time he has been allotted a PAN card or may have inadvertently allowed multiple PAN card by Income tax…
The procedure for PAN allotment process will undergo a change w.e.f.03.02.2014. From this date onwards, every PAN applicant has to submit self attested copies of 1. Proof of Identity (POI), 2. Proof of Address (POA) and 3. Date of Birth (DOB) documents Further person is also required to produce original documents of such POI/POA/DOB documents,…
There are two types of PAN verification procedure: 1. Online 2. Offline The Online PAN Verification can be verified by filling out the core details mentioned in the PAN Card. This facility can be used by the entities who receive copy of PAN application for any purpose. This facility can also be used by the…
1. Date of deduction: Date of deduction in deductee record should not be that of previous quarter. Example if the statement pertains to Q3 of FY 2013-14, then the date of deduction should not be lower than 01/10/2013. Analysis: In a deductee record there are two dates-Date of Deduction and Date of Payment (this is…
Deletion of deductee record: Feature to delete the deductee record has been discontinued. In case the user wishes to nullify a deductee record/ transaction, he is required to update the amount and related fields to 0 (zero) and add new record with updated values. Date of deduction: Date of deduction in deductee record should not…
CBDT (Central Board of Direct Taxes) has amended the rules pertaining to application of new pan card issued in its notification no. 96 dated December, 23 2013 regarding new format of PAN application; annexure A, B and C for form 49A and annexure 1 for form 49AA. There is a new list of documents required…
The tax payers are required to pay their december installment of Advance tax on or before 15th December, 2013. The taxpayers can make payments in the designated branches of the authorized banks, electronically or physically, as per law. The banks are closed on 15th December, 2013, being a Sunday. Therefore, to facilitate payment of this…
TRACES department has issued the following letter to all the deductors: Dear Deductor, Greetings from Centralized Processing Cell of TDS! Your attention is drawn towards some relevant guidelines related to payment of TDS/ TCS liability. Central Government Account (Receipts and Payments) Rules, 1983: Date of Receipt for Cheques or Drafts: The Central Government Account (Receipts…
Structure of the new series of PAN: The Permanent Account Number under new series is based on following constant permanent parameters of a taxpayer and uses Phonetic Soundex code algorithm to ensure uniqueness :- i. Full name of the taxpayer; ii. Date of birth / Date of Incorporation; iii. Status; iv. Gender in case of…
PAN should be quoted on all: Income-tax / TDS / TCS Returns, Correspondence with tax department, Tax challans, Correspondence, bills, vouchers and other documents which are send by deductee of tax to deductor, Documents pertaining to prescribed transactions Sale & purchase of immovable property valued Rs 500,000 or more Sale & purchase of motor vehicle…