Tax officials are increasingly issuing notices to directors of private limited companies which default on their tax dues, experts said. Directors are being held accountable for the tax compliance of the companies they work for under section 179 of the Income Tax Act dealing with recovery of dues. Business Standard reported on Tuesday quoting four […]Continue Reading..
The Income Tax department might impose a penalty of Rs 10,000 on those who don’t link their PAN card with Aadhaar card within the deadline of 31 March 2020. The I-T department had earlier said that un-linked PAN cards will become inoperative if not linked with Aadhaar by March 31. If the PAN card becomes […]Continue Reading..
Permanent Account Number (PAN) will become inoperative if it is not linked with Aadhaar by March 31, 2020, the Income Tax department has said. The deadline for linking of PAN and Aadhar has been extended several times and the current deadline ends on 31 March, 2020. Till January 27, 2020, over 30.75 crore PANs have already […]Continue Reading..
Issued by the income tax department as a unique identity document for taxpayers or income tax assessees, Permanent Account Number (PAN) is nothing but a 10-digit alphanumeric number. All those who are liable to pay tax in India, even minors and foreigners, are eligible to apply for a PAN card. The income tax department uses PAN […]Continue Reading..
The Income Tax department has extended the deadline for you to link your PAN card to the Aadhaar to March 31 this year. This is the eighth time the deadline has been extended. After the Supreme Court announced its verdict about the Aadhaar in 2018, the 12-digit identification number is mandatory for filing your income […]Continue Reading..
All PAN cards which are not linked to Aadhaar cards will become inoperative or invalid from January as the income tax department has made it mandatory to link the two identity documents with each other. The linking deadline has been extended till December 31. After the last date i.e. January 1, all such Permanent Account […]Continue Reading..
The tax department will soon start issuing electronic Permanent Account Number, which will bring the time required for getting the tax identification number down to just four hours. The Income Tax Department is planning to introduce a slew of measures to ease the process of obtaining a Permanent Account Number (PAN). The tax department is looking […]Continue Reading..
Income Tax return filing: You have two months left to file income tax returns for FY 2019-20. This means it is important to keep a tab on your investments and be aware of all the changes made by the Income Tax department recently. The I-T department, on its website, has different forms that can be […]Continue Reading..
The Income Tax Department has extended the deadline to link Aadhaar Card with PAN Card from 31st March 2019 to 30th September 2019. This linking of Aadhaar Card and PAN Card is mandatory, failing which your Income Tax Return (ITR) will not be processed onwards and any banking transaction above Rs 50,000 won’t be possible […]Continue Reading..
Income Tax Department Has Issued New Circular. It is Mandatory to Present Landlord’s PAN Card for Your HRA Exemption House Rent Allowance (HRA) is a part of most employees’ salary structures. To avail the HRA exemption, you need to submit rent receipts or the rent agreement with the house owner to your employer. Quoting the […]Continue Reading..