PAN Card

Effective July 31st, every citizen filing Income Tax returns will be required to have Aadhaar Card linked with their PAN Card. But as of now, only 1.08 crore Indians have linked their PAN Cards with Aadhaar Cards, and the numbers are…

Govt of India is eager to bring down the time required for registering within tax regime - be it PAN Card or the very process of filing taxes. As per new reports coming in, Central Board of Direct Taxes, which oversees and controls…

In one of the major crackdown on black money hoarders, Govt. of India has directed all banks to furnish PAN card details of all bank holders by February 28th, 2017. Never before in the history of banking, such massive exercise has…

In order to drastically ease the procedures for starting a new business in India, various Govt. departments have joined forces to make sure that both PAN (Permanent Account Number) and TAN (Tax Deduction Account Number) are allocated…

Willful tax defaulters in India may face some heat in the coming days as Income Tax Department has decided to take some aggressive steps against them. To start with, IT Dept. will block their PAN Cards, block their LPG subsidies and…

Definition: In India, Black money refers to funds earned on the black market, on which income and other taxes have not been paid. As per various estimates, more than $16.4 trillion of black money from India is stashed away in…

An official from Income Tax department has stated that a new methodology would be soon adopted by the Govt., which will enable issuance of Permanent Account Number (PAN) within 48 hours flat. As of now, it usually takes 15-20 days…

Updated: IT looks like the Finance Ministry has put on hold the new norms. A statement from the Finance Ministry says that The Central Board of Direct Taxes (CBDT) has decided not to change the norms until new orders. No reasons were given…

Starting from April 1, 2010, if your total income falls under any of the taxable slab, you are required to quote Permanent Account Number (PAN) in your financial transactions. Budget 2009-10 makes it mandatory to quote your PAN number in…