Direct & Indirect Taxes, Tax Ready Reckoner, Tax Management, Tax Act. & Rules, Tax Planning & Tax Savings.

Direct & Indirect Taxes, Tax Ready Reckoner, Tax Management, Tax Act. & Rules, Tax Planning & Tax Savings.

PAN & Aadhaar

PAN & Aadhaar Number [Section 139A and 139AA]

Permanent Account Number (PAN) [Section 139A and Rule 114]

1.   [Section 139A (1)]- Who has to apply for PAN?: Every person who has not been allotted a permanent account number shall, within such time, as may be prescribed, apply to the Assessing Officer for the allotment of a permanent account number in the following cases if: (i)         his total income or the total …

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Transactions where Quoting of PAN made Compulsory [Section 139A (5)(c) and Rule 114B]

Every person shall quote his PAN (Permanent Account Number) in all documents pertaining to the transactions specified in the Table below, namely :- TABLE SL No. Nature of transaction Value of transaction (1) (2) (3) 1. Sale or purchase of a motor vehicle or vehicle, as defined in section 2(28) of the Motor Vehicles Act, …

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