PAN

At the time of incorporation, five can be appointed designated partners

The tax department's initiatives would, in the normal course, have been welcomed by honest taxpayers, but implementation issues and the taxman's misaligned views are causing problems

India's big business groups owned by families continue to steal a march over their bigger rivals. More on this is our top headlines.

According to brokers and mutual fund transfer agents, millions of demat accounts as well as mutual fund (MF) folios are yet to link their PAN and Aadhaar

For those who do not have access to income tax portal, the linking process is made available through SMS also

The I-T Department hasn't made provision for allowing those ineligible for Aadhaar to mark their PANs, so the latter can be kept active after March 31

On Tuesday, many users took to social media to complain that their credit reports reflected loans taken by them from IVL Finance Ltd which later became Indiabulls Consumer Finance.

As per the proposed plan, up to 10 per cent of the LIC IPO issue size would be reserved for policyholders

Failing to comply with this, a person's Permanent Account Number (PAN) card will become inoperative, which means incomplete Know Your Customer (KYC) details.

It would have been more effective, they say, if the exemption in cash payment had been given without any caveats and for a longer period

India's corporate tax structure is now globally competitive! Rates of 25 and 15 per cent are completely acceptable to international investors

In order to provide relief to small businessman, it is proposed to provide exemption to an individual and Hindu Undivided Family who receives less than Rs 5 lakh and furnishes PAN/Aadhaar

PAN will be generated automatically if a taxpayer uses Aadhaar for filing returns: CBDT

At present, providing father's name in the PAN application Forms (Form No.49A and Form No.49AA) is mandatory

A sharp jump in the number of individual PAN holders reveals India's demography and underlines new challenges

CBDT chairman said after the Centre announced to scrap high value currency notes in November last year, the number rose to 7.5 lakh

High-value transactions of more than Rs 50,000 and above require PAN details

Newly incorporated companies are getting Permanent Account Number (PAN) and Tax Deduction Account Number (TAN) in electronic form within a day. Till March end, 19,704 such companies have received PAN in a day of ministry of corporate affairs sending data of incorporation to the income tax department. The government hopes that the initiative will improve India's ranking in the World Bank's ease of doing report from the current position of 130th. The Central Board of Direct Taxes (CBDT) said it has tied up with the Ministry of Corporate Affairs (MCA) under which companies can submit a common application form.Applicant companies submit a common application form SPICe (INC 32) on MCA portal and once the data of incorporation is sent to CBDT by the MCA, PAN and TAN are issued immediately without any further intervention of the applicant.In the month of March, 2017 alone, PAN was allotted within 4 hours to 95.63 per cent of total 10,894 newly incorporated companies. All such companies got ..

Tax department had in January asked banks, post offices and cooperative banks to document PAN

It will also identify records with errors or other defects for resubmission