11 lakh PAN Cards have been Deactivated by The Government

PAN CARD SAMPLE

11 lakh PAN Cards have been Deactivated by The Government Check if your pan card has been deleted. Here’s How: The easiest way to check your PAN Card is through the Know You Pan Portal Provided on income tax Website. Heres a link to that site. To check your pan card status. Click Here Details you will need for this purpose are: Surname Middle name First name Status [ Individual/ Company /HUF/Firms etc.] Gender [if applicable] Date of Birth/Incorporation [As per the case] Mobile Number in order to get OTP.

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HOW TO CHOOSE INCOME TAX RETURN FORM

There are different types of form to file income tax return but before filing return we have to choose appropriate return as nature of person and source of income. Following are the circumstances to choose appropriate form; ITR-1 OR SAHAJ  Persons eligible to choose ITR-1 or Sahaj The person who can use this form is an Individual and whose total income for the financial year 2016-2017 includes:- Income from Salary/ Pension; Income from Other Sources; Income from One House Property. NOT ELIGIBLE FOR ITR-1 If total income more than ₹…

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Linking Aadhaar and PAN is not mandatory for all.

CBDT has notified that Section 139AA of the Income Tax Act is not applicable to the following individuals : Those categorised as Non-resident Indians as per the Income Tax Laws, Not a citizen of India, Is of age 80 years or more at any time during the tax year and Residents of the states of Assam, Meghalaya and Jammu and Kashmir. The above mention categories of Individuals are exempted from the purview of section 139AA i.e. exempted from compulsory linking of PAN and Aadhaar, only if they do not possess…

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Value of assets by Valuation Officer Section – 142A, Income-tax Act, 1961

Section - 142A, Income-tax Act, 1961

Estimation of value of assets by Valuation Officer Section – 142A, Income-tax Act, 1961 (1) The Assessing Officer may, for the purposes of assessment or reassessment, make a reference to a Valuation Officer to estimate the value, including fair market value, of any asset, property or investment and submit a copy of the report to him. (2) The Assessing Officer may make a reference to the Valuation Officer under sub-section (1) whether or not he is satisfied with the correctness or completeness of the accounts of the assessee. (3) The…

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