Permanent account number requirement mandates application and mandatory quoting across tax returns and specified transactions. A statutory requirement mandates application for and allotment of a permanent account number where a person's taxable income exceeds the basic exemption or a business's receipts are likely to exceed a prescribed turnover threshold; Income-tax Officers may allot PANs to other taxpayers and pre-existing PANs are deemed valid under the new provision. Holders must quote the PAN on returns, correspondence, payment challans and prescribed transaction documents and notify the Income-tax Officer of changes. The Board may prescribe application form particulars and categories of transactions requiring PAN quoting.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Permanent account number requirement mandates application and mandatory quoting across tax returns and specified transactions.
A statutory requirement mandates application for and allotment of a permanent account number where a person's taxable income exceeds the basic exemption or a business's receipts are likely to exceed a prescribed turnover threshold; Income-tax Officers may allot PANs to other taxpayers and pre-existing PANs are deemed valid under the new provision. Holders must quote the PAN on returns, correspondence, payment challans and prescribed transaction documents and notify the Income-tax Officer of changes. The Board may prescribe application form particulars and categories of transactions requiring PAN quoting.
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