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Penalty for Failure to Apply for PAN

If you are required to apply PAN as I stated my earlier posts by law the failure to apply or to mention PAN in specified transaction attracts penalty of Rs. 10,000. Are you liable to Apply PAN or not see this post ? My advise to you if you above the age of 18 then you must apply PAN. This will help you in various field of finance and others. Read all PAN Article in .....

PAN Mandatory for Certain Transactions

1) Person apply for VAT No. under Value Added Tax Act of the appropriate state or union territory.2) Sale and purchase of immovable property valued at Rs. 5 Lakh or more.3) Payment to hotels and restaurants exceeding Rs. 25,000.00.4) Sale and purchase of motor vehicles (excluding two-wheelers)5) Time Deposits exceeding Rs. 50,000 in a bank or banking institutions.6) Deposits exceeding Rs. 50,000 in post office saving banks.7) Payment exceeding Rs.50,000 to mutual funds and other .....

Compulsory Required PAN

The Following persons are compulsory required PAN irrespective of any income.1) Importers and Exporters;2) Assessee under the Central Excise Act;3) Service Tax Assessee;4) Person Registered under the Central Excise Act;5) Person registered under the Value Added Tax Act of the appropriate state or union territory.

Who is Liable to Obtain PAN

Every person whose taxable income exceeds Rs. 1,10,000 (male), 1,45,000 (female) 1,95,000 senior citizens above the age of 65 years) individual for assessment year 2008-09 is required to apply Permanent Account Number (PAN).Non – assessees shall (except above mention case ) also be required to obtain PAN, in case they enter into specified transaction for which furnishing PAN is mandatory. (See this post)

Know PAN Name | Surname | DoB | All Detail just by Enter PAN

Can we know all detail of PAN holder just only by enter PAN? Yes, we can view I was also surprised like as you now, but it is true. Yesterday, I was searching in google for PAN detail of my an assessee after almost 15 to 16 try to file e-filing of his return by reason for giving wrong name or surname. Simultaneously I think internet is so wide so there should be information about .....

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