Extension of deadline till 31.3.18 for submission of Aadhaar number, and Permanent Account Number or Form 60 by client to the reporting entity After considering various representations received and inputs received from Banks, it has been decided to notify 31st March, 2018 or six months from the date of commencement of account based relationship by the client, whichever is … [Read more...] about Extension of deadline till 31.3.18 for submission of Aadhaar number, and Permanent Account Number or Form 60 by client to the reporting entity
Permanent Account Number
Mandating Aadhaar linkage to PAN cards
Mandating Aadhaar linkage to PAN cards Permanent Account Number (PAN) is the key identifier of taxable entity and aggregator of all financial transactions undertaken by one person. One PAN for one person is the guiding principle for allotment of PAN. However, for achieving the objective of one PAN to one assessee it is required to maintain uniqueness of PAN. The uniqueness … [Read more...] about Mandating Aadhaar linkage to PAN cards
Key changes to Mandatory Quoting of Pan Rules of the Income tax Act
Key changes to Mandatory Quoting of Pan Rules of the Income tax Act Rules regarding quoting of PAN for specified transactions amended The Government is committed to curbing the circulation of black money and widening of tax base. To collect information of certain types of transactions from third parties in a non-intrusive manner, the Income-tax Rules require quoting of … [Read more...] about Key changes to Mandatory Quoting of Pan Rules of the Income tax Act
