Taxman gets new tech tool to identify, kill duplicate PAN

March 22, 2016
by
1 min read

After years of labour, the I-T department has finally got a new technology tool to check duplicate PAN cards, allowing them to ‘kill’ it.

An ambitious electronic platform called the Income Tax Business Application-Permanent Account Number (ITBA-PAN) has been operationalised. It will help the taxman and PAN issuing intermediaries identify such duplicate numbers every time a new application for generation of the I-T department-issued unique identity reaches their portals.

“The department earlier used to check against duplicity of PAN in a manual fashion which was not foolproof. The new electronic system is very accurate,

Post Views: 43

Related Posts

Admin Latest posts
  1. Income Tax deduction for procurements from MSMEs only upon actual payment
  2. Foreign companies may be required to file Tax Returns in India
  3. How Cryptocurrencies Are Taxed In India
  4. Constitution Of The GST Appellate Tribunal – Need For Speedy Judicial Remedy
Previous Story

High Court Shocked At Loot Of Taxpayers Funds By Corrupt Babus. Calls For Non-Cooperation Movement By Taxpayers To Eradicate “Hydra Headed Monster” Of Corruption

Next Story

CBDT suggests “Equalisation Levy” of 6-8% on B2B deals

Latest from Blog

Income Tax deduction for procurements from MSMEs only upon actual payment

By Shaleen Shah | LinkedIn, assisted by Divyansh Jain Introduction This Note is relevant to computation of income under the head ‘Income from business and profession’. Section 43B of the Income Tax Act provides a list of expenses allowed as deduction, on cash basis irrespective of the year of accounting.

Foreign companies may be required to file Tax Returns in India

by Nexdigm Private Limited as published on mondaq.com Impact of increase in withholding tax on rates for Fees for Technical Services and Royalty As per Indian Tax laws1, payments made to Non-Residents/Foreign Companies for Fees for Technical Services (FTS) and Royalties were liable to tax at the effective tax rate of

How Cryptocurrencies Are Taxed In India

[Source: forbes.com; Authors: Justin M Bharucha, Aashika Jain] Cryptocurrencies and non-fungible tokens (NFTs) are presently unregulated in India. While the Reserve Bank of India (RBI) had sought to ban cryptocurrencies in 2018, the Supreme Court quashed the attempted ban leaving cryptocurrencies in regulatory limbo – neither illegal nor, strictly speaking,

Higher rate of TDS in certain situations from 1st July 2021

[By Shaleen Shah (Partner), VNCA] Finance Act 2021, has introduced a new section 206AB effective from 1-Jul-2021 wherein a payer/buyer is responsible to deduct TDS at higher rate (i.e. twice the rate as specified under the relevant provision of the Income Tax Act or twice the rate/ rates in force;
GoUp

Don't Miss

How Cryptocurrencies Are Taxed In India

[Source: forbes.com; Authors: Justin M Bharucha, Aashika Jain] Cryptocurrencies and

Only 329 startups can claim tax holiday under Startup India

[Source: cnbctv18.com] Exactly five years since the launch of the