PAN to be used as common identifier

PAN is a Permanent Account Number issued by the Income Tax Department of India. It is a ten-digit alphanumeric number. During the Union Budget 2023, Finance Minister Smt Nirmala Sitaraman announced that GoI is to use PAN as a universal ..

Tags: Income Tax Department • PAN • Permanent account number • Tax evasion • Union Budget

Month: Current Affairs - February, 2023

Category: Economy & Banking Current Affairs - 2022

Ministry of Corporate Affairs Facility for e – Adjudication

The Ministry of Corporate Affairs launched the MCA21 to speed the access to the services of the ministry. Recently, the ministry added some key features to MCA21. They are e – adjudication, compliance management, and e-consultation. Adjudication means a judgment ..

Tags: CBDT • Central Board of Direct Taxes (CBDT) • Companies Act 2013 • MCA21 • MCA21 Mission Mode Project

Month: Current Affairs - January, 2023

Category: Economy & Banking Current Affairs - 2022

New TDS Rules from July 1

A new Tax Deducted at Source (TDS) rule is coming into effect from July 1, 2021.What are those new rules?Under the new rules, non-filer of income tax for past two financial years will be subjected to higher taxation. TDS or ..

Tags: Central Board of Direct Taxes (CBDT) • New TDS Rules • Permanent account number • tax collected at source (TCS) • Tax Deducted at Source

Month: Current Affairs - July, 2021

Aadhaar cards are now valid travel documents for Indians travelling to Nepal and Bhutan

According to recent Union Home Ministry communique, Aadhaar cards are now valid travel documents for Indians under 15 and over 65 years travelling to Nepal and Bhutan. Indians other than those in the two age brackets will not be able ..

Tags: Aadhaar • Government • Government of India • Identity document • India

Supreme Court declares Centre’s flagship Aadhaar scheme as constitutionally valid for filing of IT returns and allotment of PAN

On September 26, the Supreme Court of India (SCI) declared the Centre’s flagship Aadhaar scheme as constitutionally valid for filing of IT returns and allotment of Permanent Account Number (PAN), but struck down some of its provisions including its linking ..

Tags: Aadhaar • Biometrics • Dipak Misra • Government • Government of India