Tax India: FAQs on Statement of Financial Transactions and Reportable Accounts

Section 80G

Contributions made to certain relief funds and charitable institutions can be claimed as a deduction under Section 80G of the Inco...
What is statement of financial transaction or reportable account (previously called as 'Annual Information Return (AIR)'?

As per section 285BA of the Income-tax Act, 1961 (as substituted by Finance Act, 2014 w.e.f. 01-04-2015), specified entities (Fil...
What is the difference between PAN and TAN?

PAN stands for Permanent Account Number and TAN stands for Tax Deduction Account Number. TAN is to be obtained by the person responsi...
How to compute gross annual value of a property which is let-out throughout the year?

The steps involved in computation of gross annual value of a property which is let-out throughout the year are already discussed ea...
What documents and information have to be submitted along with the PAN application in Form 49A/49AA?

The documents required to be submitted with the PAN application are specified in Rule 114 of the Income-tax Rules. The details of the...

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