Issuing of PAN instantly

The CBDT is working on Issuing of PAN instantly based on e-KYC available from the Aadhar's e-KYC facilities, thus reducing the time of PAN generation to few minutes. The e-KYC allows the user to verify details through a bio-metric identification features.Currently, issuing of a new PAN takes about 2-3 weeks.With the availability of this new facili

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Annual Information Return (AIR) in response to demonetization of 500 and 1000 notes

Further to the demonetization of the high denomination notes, which is resulting in huge deposits of cash in Bank accounts, to monitor the possible tax evasion CBDT has mandated the reporting of the same by Banks / Cooperative society / Post Offices by amending the Rule 114E of Income Tax.CBDT vide its notification no. 104/2016 dated 15th Novembe

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Paperless PAN and TAN - registration made easier

Paperless PAN and TAN applications i.e., online application for PAN and TAN registration has been introduced by the CBDT. The primary objective of this initiative is to increase the speed at which PAN and TAN can be registered. According to the new process, the PAN and TAN which can be applied online will be allotted within one day of completion o

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Paperless PAN and TAN application - Press release from ITD

The following post is a press release from ITD i.e., the Income Tax Department which speaks about the implementation of Paperless PAN and TAN application. Government of India Ministry of Finance Department of Revenue Central Board of Direct TaxesNew Delhi, 22nd July, 2016.Sub :- Ease of Doing Business – Paperless PAN and TAN application pro

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PAN made mandatory for the following cases

In order to restrain the circulation of black money and to increase the tax base, the government has recently updated the conditions for which quoting of PAN is mandatory. This will be applicable for transactions which exceed a certain limit which is specified.This change was made based on the recommendation of the Special Investigation Team (SIT)

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