Market regulator Sebi on Monday rationalised the compliance requirement of collecting and maintaining copies of permanent account number (PAN) of clients by members of the exchanges having commodity derivatives segment and enhanced the use of e-PAN.
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The department of revenue (DoR), ministry of finance has clarified that any purchase of gold, silver, jewellery, or precious gems and stones below Rs 2 lakh does not require permanent account number (PAN) or Aadhaar of a customer as mandatory Know Your Customer (KYC) document.
Now you can get a PAN allotted to you by the income tax department instantly if you have an Aadhaar-linked mobile number. The instant PAN will be a paperless exercise where an applicant will be issued an e-PAN free of cost. The finance minister had made the provision for instant PAN in her Budget announcements … Continue reading Have mobile linked to Aadhaar? Get PAN instantly
Finance minister Nirmala Sitharaman on Thursday launched a facility for instant allotment of online PAN (permanent account number) card on furnishing of Aadhaar details. The Budget 2020-21 had proposed to launch a system under which PAN shall be instantly allotted online on the basis of Aadhaar without filling up the detailed application form, easing the … Continue reading FM launches instant allotment of PAN via Aadhaar
The Income Tax (I-T) department on Monday issued a public message saying it was “mandatory” to link PAN (permanent account number) with Aadhaar and advised people not to “miss” the stipulated deadline of March 31. The department had last month said PAN will become “inoperative” if it is not linked with Aadhaar by this date.
The Income Tax (I-T) department will share all taxpayers’ data like PAN (permanent account number) information with Sebi in order to help the capital market regulator in its probe against various entities, including stock market manipulators. The sharing of information will be under three broad heads: request-based exchange of data, suo moto and automatic.
The government has made it mandatory for employees, who are subjected to tax deducted at source (TDS), to share their permanent account number or Aadhaar, or face the prospect of a mandatory 20% deduction from their salary.