What is limited scrutiny?
Tax India Online
March 03, 2018
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In case of assessment two type of cases have been selected for scrutiny: one is 'Limited Scrutiny' and other is 'Com...
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Showing posts with label Income Tax FAQ's. Show all posts
Showing posts with label Income Tax FAQ's. Show all posts
Saturday, March 3, 2018
FAQs from income tax india e-Filing portal
Tax India Online
March 03, 2018
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To see the FAQs from income tax india e-Filing portal, please visit at https://incometaxindiaefiling.gov.in/
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FAQs from TDS – Centralized Processing Cell
Tax India Online
March 03, 2018
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To see the FAQs from TDS – Centralized Processing Cell, please visit at http://contents.tdscpc.gov.in/en/top-faq.html ...
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What are the consequences for furnishing inaccurate statement of financial transaction or reportable account?
Tax India Online
March 03, 2018
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If a prescribed reporting financial institution referred to in Section 285BA(1)(k) who is required to furnish statement of financi...
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Is there any remedy available under the act, if a person filed inaccurate or defective statement?
Tax India Online
March 03, 2018
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If any person, after filing the statement, comes to know or discovers any inaccuracy in the information provided in the statement, he sh...
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Is there any remedy available under the act, if a person does not file the statement within the prescribed time?
Tax India Online
March 03, 2018
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Section 285BA(5) empower the tax authorities to issue a notice to the person who had not filed the statement within prescribed tim...
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What is the mode and due date for filing of statement of financial transaction or reportable account?
Tax India Online
March 03, 2018
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The statement of financial transaction shall be furnished electronically (under digital signature) in Form No. 61A to the Director of...
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Who is required to furnish statement of financial transactions and reportable accounts?
Tax India Online
March 03, 2018
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Following persons shall be required to furnish statement of financial transactions or reportable accounts registered or recorded or m...
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What is statement of financial transaction or reportable account (previously called as 'Annual Information Return (AIR)'?
Tax India Online
March 03, 2018
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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...
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Whom to contact in case of any matter relating to PAN?
Tax India Online
March 03, 2018
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In case of PAN card is not received , contact NSDL. The Income Tax Department or NSDL can be contacted in any of the following me...
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By mistake I have been using different PANs for different purposes like one for my demat account and another for filing my Income-tax return and payment of taxes. How do I set this right?
Tax India Online
March 03, 2018
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It is advisable to retain only one PAN, preferably the one used for Income-tax purpose and surrender the other number immediately. The ...
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Can a person hold more than one PAN?
Tax India Online
March 03, 2018
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A person cannot hold more than one PAN. If a PAN is allotted to a person, then he cannot apply for obtaining another PAN. A penalty ...
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What is the penalty for not complying with the provisions relating to PAN?
Tax India Online
March 03, 2018
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Section 272B provides for penalty in case of default by the taxpayer in complying with the provisions relating to PAN, i.e., not ...
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Should I intimate the Income Tax Department if there is any change in the details provided at the time of allotment of PAN?
Tax India Online
March 03, 2018
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Any change in the PAN database (i.e. details provided at the time of obtaining PAN) should be intimated to the Income-tax Department by...
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What is the validity of PAN?
Tax India Online
March 03, 2018
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PAN obtained once is valid for life-time of the PAN-holder throughout India. It is not affected by change of address or change of Ass...
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If my PAN card is lost then what to do?
Tax India Online
March 03, 2018
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If the PAN card is lost or you wish to have a new PAN card with existing details , then you can apply for duplicate PAN card by submi...
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Should I intimate my PAN to deductor i.e. person deducting tax?
Tax India Online
March 03, 2018
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Yes, you should intimate your PAN to the deductor i.e. person deducting tax. From 1st April, 2010, non-furnishing of PAN to deductors...
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Is it mandatory to file return of income after getting PAN?
Tax India Online
March 03, 2018
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Return is to be filed only if you are liable to file return of income under section 139 . It is not mandatory to file return of i...
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After making the PAN application how can I check the status of my PAN application?
Tax India Online
March 03, 2018
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After applying for PAN, one can check the status of his application by using the track status facility available at web sites of In...
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How to sign the PAN application i.e. Form 49A/49AA?
Tax India Online
March 03, 2018
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The applicant has to provide signature at three places in form 49A / 49AA . If the applicant cannot sign, then the Left Hand Thumb imp...
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