PAN will also be required for opening of current and cash credit account
CBDT said furnishing the PAN or Aadhaar will be mandatory for such high-value deposits or withdrawals from banks, or opening of a current account or cash credit account with a bank or post office
The fee will be Rs 500 for those who link their PAN with Aadhaar between April 1 and June 30, 2022
For those who do not have access to income tax portal, the linking process is made available through SMS also
"Protect your personal data which may be used for creating fake entities in GST for evasion of taxes," the CBIC tweeted
The initial public offering (IPO) of over 31.6 crore shares or 5 per cent government stake is likely to hit the market in March
The government on Friday extended by six months till March 2022 the deadline to link PAN with biometric ID Aadhaar. In a statement, the Central Board of Direct Taxes (CBDT) said to address the hardship being faced by various stakeholders on account of the COVID-19 pandemic, the timeline has been extended which will ease compliance. "Time limit for intimation of Aadhaar number to the Income tax Department for linking of PAN with Aadhaar has been extended from 30th September, 2021 to 31st March, 2022," it said. Also, the due date for completion of penalty proceedings under the I-T Act has been extended from September 30, 2021 to March 31, 2022. Further, the time limit for issuance of notice and passing of order by the Adjudicating Authority under the Prohibition of Benami Property Transactions Act, 1988 has been extended to March 2022.
The new Income Tax Department website, which has been marred by glitches, has successfully received over 2.5 million returns, more than 35.7 million unique logins
A senior official said the details came into the public domain "inadvertently" as the regulator is working on a beta project to host the information of creditors
The finance ministry's new online tax filing system will help expand the tax base by reducing the time and effort required to register a new taxpayer and create a permanent account number
PAN requirement will no longer apply to such investors
The income tax department said it has received representations from taxpayers for the extension in the wake of the ongoing Covid pandemic
Retired bank employees should not be forgotten; bankers should be a cohesive family such as in defence, says Sitharaman
But a higher rate will be levied if PAN isn't furnished
In order to align the practices, Sebi on Wednesday asked depositories and exchanges to use the new procedure of capturing the PAN of the promoters from listed companies for disclosures under the takeover norms also. Earlier this month, the regulator put in place a detailed procedure for system-driven disclosures under the PIT (Prohibition of Insider Trading) Regulations. This system-driven disclosures will pertain to trading in equity shares and equity derivative instruments -- futures and options -- of the listed company by such entities. The new framework required that the capture of the Permanent Account Number (PAN) of the entities be done from the listed company itself, rather than through the registrar and share transfer agents (RTAs). In order to align the practices, it has been decided to use the procedure of capturing the PAN of the promoters from listed companies as stipulated by the regulator earlier this month for SAST (Substantial Acquisition of Shares and Takeover) no
One have to prepare e-invoice for all your supplies with effect from October 1, 2020, expert suggests
The Income Tax department on Wednesday said it has launched a functionality for scheduled commercial banks to check status of income tax returns filed by entities based on their PAN
Government is not considering any modification in the ITR form
Gujarat the most tax-compliant state in terms of proportion of return filers to PAN holders
Here are the eight major announcements by the govt in the recent past