33 ViewsHere’s a curious tale involving the common man, a con man and the taxman. A housekeeping worker, formerly a security guard, who currently earns Rs 10,000 a month, has got the taxman’s notice, asking to explain a transaction of Rs 1.14 crore from China, in which his PAN card was used, and routed via […]
PAN as single business ID set to get legal backing in Budget 2023-24
68 ViewsThe Union Budget 2023-24 is likely to roll out the legal and operational framework for adopting the permanent account number (PAN) as a single business identification. This will apply to all businesses securing approvals, a senior finance ministry official informed Business Standard. Source: business-standard
PAN likely to become single ID for investment approvals: What this means
74 ViewsYour Permanent Account Number (PAN) is likely to become the only identification needed for seeking different clearances and approvals from the central and state departments for your business. The Centre has announced that it is planning to allow businesses to use the PAN instead of other data as a unique identifier for entering into […]
CBDT notified the transactions and persons to quote PAN in certain transactions for authentication purpose
114 ViewsThe CBDT vide Notification No. 53/2022 dated May 10, 2022 has issued the Income-Tax Amendment (Fifteenth Amendment) Rules, 2022 to further amend the Income-Tax Rules, 1962 (“the IT Rules”), in order to notify the transactions and persons to quote Permanent Account Number (“PAN”) in specified transactions for authentication purpose, in a following manner: Introduced […]
CBIC cautions against sharing Aadhaar, PAN details without valid reasons
186 ViewsThe CBIC on Thursday cautioned the public against sharing Aadhaar and PAN details without a valid reason or for monetary gains, saying that the information could be misused by fraudsters for GST evasion. In a tweet, the Central Board of Indirect Taxes and Customs (CBIC) said Aadhaar and PAN details can be used for […]