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The central government has introduced a new online service called "Know Your PAN", [4] to for knowing your PAN number, verify your PAN [5] for new and existing PAN numbers. [6] Failure to comply with the provisions of Section 139A of Income Tax Act, a penalty of ₹10,000/- for each default is payable u/s.272B to the assessing officer. [7]
In India, a Tax Deduction and Collection Account Number (TAN) is a 10 digit alpha-numeric number issued by the Income Tax Department to the persons who are required to deduct or collect tax on payments made by them under the Indian Income Tax Act, 1961.
A payment card number, primary account number (PAN), or simply a card number, is the card identifier found on payment cards, such as credit cards and debit cards, as well as stored-value cards, gift cards and other similar cards. In some situations the card number is referred to as a bank card number. The card number is primarily a card ...
The 19th century saw the establishment of British rule in India. Following the mutiny of 1857, the British government faced an acute financial crisis. To fill up the treasury, the first Income-tax Act was introduced in February 1860 by James Wilson, who became British-India's first finance minister. [11]
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The name, the complete postal address, details of the place of business, the PAN number, as well as the name of the country to which the remittance has been made are required to be mentioned. The status of the entity, whether it is a company, a firm , or others, is represented by the numerals 1, 2, and 3.
A large number of people remain without identity documents - poor people especially. In order to include them, identity requirements for Aadhaar have been reduced, however biometric facilities have been provided to reduce or eliminated duplication, so while it may be possible to obtain the card under a false name, it is less likely to be able to obtain another Aadhaar card under a different ...