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Know Your PAN

| Filed under Economy

Know Your PAN

PAN, aka, Permanent Account Number is a unique alphanumeric combination. This is issued by the Indian Income Tax Department to all juristic entities identifiable under the Income Tax Act 1961. The issuance of PAN by the Indian Income Tax Department is done under the supervision of the Central Board for Direct Taxes and on a general note, resembles the National Identification Number. This is also considered a very important identity proof. The PAN is unique and permanent and is not at all affected by the change of address, even if the change is from one state to another. So you should Know Your PAN.

know your pan 300x188 Know Your PAN

 

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PAN – Permanent Account Number

| Filed under Economy

Is your total income exceeding the maximum limit not chargeable to income tax? Then it is time that you get yourself a Permanent Account Number or PAN! Even if your answer is a no to the above question you will still require a PAN number if you are someone coming under the class or group as specified by the central government!

pan card 197230312 285x300 PAN   Permanent Account Number


So the next time you file your income tax you are legally obliged to quote your PAN number on all papers including the tax payment challans. Moreover, you should quote your PAN if you:

  1. Buy or sell an immovable property; or
  2. Have deposits in banks that exceeds the allowable limits; or
  3. Buy mutual funds more than the specified limits.

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How to file your Taxes

| Filed under News and Views

taxes 240x300 How to file your Taxes
We are often battling with the income tax forms and we often take special care in making things accurate, still one error can cause you loss of money and can question your hardwork that you have spend working out for them. With the changes that comes to the form one thing is pretty sure that the columns are only increasing yearly. Some of them needs to be changed over time and its a happy note to write that there are changes with your income tax norms too.
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How to get Tax Refunds tips

| Filed under Economy

 

taxrefunds large How to get Tax Refunds tipsTax time is surely tension time and most hateful time of the year for many people. Tax time is a tedious time and people often hate to fill up the questions which are too much for it. If you are working then its most likely that your company would cut down an excessive share of money from you in the name of tax, if that is the case then you need to have move on for tax refund. Its said easily but getting a Tax refund can blow your brains out particularly if you do not have the idea of whom to be contacted and how to move for it, if you are in a place where there is no ECS – electronic clearance system available then you are fixed. 

If you are planning to get your tax refunds then some points are there to be taken care off. First its important to know what is causing the delay with your refund, if you have quoted a wrong PAN number or bank account or have wrongly filed in the ward/ circle, the chances are high for a delay. If you have a Tax refund of more than Rs.5 lakhs then a delay is there which cites additional approvals. There would also be delay if you have pending litigation or any other types of issues with them. 

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