TaxTMI 
TaxTMI 
Requirement of PAN for Demat account
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....equirement of PAN for Demat account<br> Query (Issue) Started By: - Nirmal Barmecha Dated:- 29-5-2007 Last Reply Date:- 2-6-2007 Service Tax<br>Got 3 Replies<br>Service Tax<br>Whether Oversead Body Corporate based in Moritius having in no existence in India is required to obtain PAN no. for opening Demat Account in India. Someone please advice. Reply By Ganesh Sati: The Reply: Yes. For opening D....
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....-mat account, furnishing PAN is obligatory. However, if you are a PAN holder, the same would not automatically make you liable to file your Income tax return in India. There are several transactions for which obtaining PAN has been made mandatory, however filing of IT is governed by provision of section 139(1). ITR will be filed in India only if there is some income (of loss) which is received or ....
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....deemed to be received or accrues/arise or deemed to accrue/arise in India. In the present case, however, since u will be holding securities/units which are issued by Indian company/AMC, any income thereform (whether by way of capital gains or by way of dividend) will be deemed to accrue or arise in India in view of Section 9 of the IT Act. Reply By Nirmal Barmecha: The Reply: Thanks for the reply....
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..... But still I have some confusion that eveb if the company has to apply for the PAN then please clarrify on the following points to be given in Form 49 A: 1.Status of applicant 2.Addrees of the Applicant 3.How the Overseas Corporate Body based in Moritius will be assessed in India 4.How to receive the PAN card in India. Please reply. Reply By Nirmal Barmecha: The Reply: Please reply some one.If a....
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....ny confusion pleae clear.<br> Discussion Forum - Knowledge Sharing ....