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Depositing Rs 2.5 lakh or above? Quoting PAN is mandatory, says CBDT

Depositing Rs 2.5 lakh or above? Quoting PAN is mandatory, says CBDT

Quoting of PAN for cash deposits aggregating to Rs 2.5 lakh or more in bank accounts after the withdrawal of old 500 and 1000 rupees notes is mandatory, the tax department said Thursday.

PAN must for cash deposits exceeding Rs 50,000: RBI to banks

PAN must for cash deposits exceeding Rs 50,000: RBI to banks

RBI Wednesday asked banks to ensure customers submit a copy of PAN card for any cash deposit exceeding Rs 50,000, if it is not already seeded with the account, to ensure tax rule compliance in the wake of the recent decision to abolish Rs 500 and Rs 1,000 notes.

Govt to keep track of deposits above Rs 2.5 lakh, to attract tax plus 200% penalty on income mismatch

Govt to keep track of deposits above Rs 2.5 lakh, to attract tax plus 200% penalty on income mismatch

Further dangling the stick, government on Wednesday night warned that cash deposits above Rs 2.5 lakh threshold under the 50-day window could attract tax plus a 200 percent penalty in case of income mismatch.

Govt to keep tabs on deposits over Rs 2.5 lakh, to attract tax plus 200% fine on income mismatch

Govt to keep tabs on deposits over Rs 2.5 lakh, to attract tax plus 200% fine on income mismatch

Any mismatch with income declared by the account holder will be treated as a case of tax evasion and thus attract tax plus a penalty of 200 percent, the government said.

Demonetisation of Rs 500, Rs 1,000 notes: FAQ by Reserve Bank of India

Demonetisation of Rs 500, Rs 1,000 notes: FAQ by Reserve Bank of India

In order to contain the rising incidence of fake notes and black money, the scheme to withdraw has been introduced.

After demonetisation of Rs 500 and Rs1,000 notes, I-T Dept to track all deposits over Rs 2 lakh

After demonetisation of Rs 500 and Rs1,000 notes, I-T Dept to track all deposits over Rs 2 lakh

After demonetisation of Rs 500 and Rs1,000 currency notes, the government has issued orders to income tax department and all banks to keep a track of all the monetary transactions involving cash of Rs 2 lakh and above.

NASA's Cassini captures the reign of Pan, Saturn's small moon! - See pic

NASA's Cassini captures the reign of Pan, Saturn's small moon! - See pic

The view in the image looks toward the sunlit side of the rings from about 8 degrees above the ring plane.

Cara Delevingne sparks off engagement rumours on Jimmy Kimmel's show

Cara Delevingne sparks off engagement rumours on Jimmy Kimmel's show

Model Cara Delevingne has yet again sparked off her engagement rumours with girlfriend St Vincent as she recently sported a large ring during her appearance on the Jimmy Kimmel Live show.

I-T dept to issue notice to seek information about PAN

I-T dept to issue notice to seek information about PAN

Share Bazar, Mandi Live, Aap Ka Bazar, First Trade, Big Debate etc.

Pandemonium! Saturn's moon Pan and rings as seen from Cassini spacecraft (See pic)

Pandemonium! Saturn's moon Pan and rings as seen from Cassini spacecraft (See pic)

Pan and moons like it have profound effects on Saturn's rings, ranging from clearing gaps to creating new ringlets, to raising vertical waves that rise above and below the ring plane.

Black money window: CBDT issues fresh FAQs; PAN mandatory

Black money window: CBDT issues fresh FAQs; PAN mandatory

CBDT on Monday issued a set of fresh FAQs to clarify doubts about the processes of the one-time black money window as it stated that furnishing PAN number will be mandatory for the declarant while cases of non-filing of ITRs will be eligible to apply but with certain conditions.

New PAN rule hits sales of luxury items

New PAN rule hits sales of luxury items

Zee Media Bureau

New Delhi: The store owners of luxury goods are observing dampened sales due to the implementation of new PAN rule.

Delhi govt bans sale of all forms of chewable tobacco for 1 year

According to the notification, unpackaged products of chewable tobacco, too, are covered under the ambit of the ban. 

Ease of doing: Govt weighs making PAN a unique ID for companies

Government is working on a proposal to make PAN a unique identity for business entities with a view to improving ease of doing business and ensuring a company is incorporated in a day using an integrated e-biz portal

7 ways by which you can get Income Tax refund at the earliest

7 ways by which you can get Income Tax refund at the earliest

Here are the 7 ways using which you can get income tax returns at the earliest

Income Tax department gets new tech tool to identify, kill duplicate PAN

Income Tax department gets new tech tool to identify, kill duplicate PAN

After years of labour, the IncomeTax department has finally got a new technology tool to checkthe menace of duplicate PAN cards which also allows the taxmanto 'kill' the second one

Bullion strike spills onto Day 9 as jewellers press demand

Bullion strike spills onto Day 9 as jewellers press demand

Jewellers across the country have been in protest mode since March 2 against the proposed levy on non-silver jewellery items announced in the Budget 2016-17 and mandatory quoting of PAN by customers for transactions of Rs 2 lakh and above.

 

Must know about India's youngest PAN card holder!

Must know about India's youngest PAN card holder!

Ashi, born only five days ago in Bihar, has become the youngest PAN card holder in the country, her father said on Thursday.

Bullion traders refuse to budge, shut shop for 8th day

Bullion traders refuse to budge, shut shop for 8th day

Gold and jewellery establishments in many parts of the country remained closed for the 8th day Wednesday as traders continue their protest against the budgetary proposal to levy 1 percent excise duty on non-silver jewellery.

 

Govt's PAN rule on gold purchase backfires, boosts unofficial trade

Govt's PAN rule on gold purchase backfires, boosts unofficial trade

Its latest attempt - a rule forcing buyers of high-value jewellery to disclose their tax code - has boosted unofficial trading in the world`s second-biggest gold consumer, industry experts say, rather than promote transparency and dent demand.