Freequently Asked Questions (FAQ) on Income Tax India

 

General FAQs on 'Income Tax'- IT

FAQs on ‘Income Tax’

Q.1

What is Income-tax?

Q.2

​What is the administrative framework of Income-tax?

Q.3

​What is the period for which a person’s income is taken into account for the purpose of Income-tax?

Q.4

​Who is supposed to pay Income-tax?

Q.5

​How does the Government collect Income-tax?

Q.6

​How will I know how much Income-tax I have to pay?

Q.7

​From where can I take the help of any expert on Income-tax related matters?

Q.8

​When do I have to pay the taxes on my income?

Q.9

​How to deposit Self Assessment Tax or Advance tax to the credit of Government?​?

Q.10

​In the Challan there are terms like Income-tax on companies & Income-tax other than companies. What do they mean?

Q.11

​How is advance tax calculated and paid?

Q.12

What is tax on regular assessment and how is it paid?​

Q.13

​What are the precautions that I should take while filling-up the tax payment challan?

Q.14

​Do I need to insist on some proof of payment from the Banker to whom I have submitted the challan?

Q.15

​How can I know that the Government has received the amount deposited by me as taxes in the bank?

Q.16

​What should I do if my tax payment particulars are not found against my name in the website?

Q.17

​Is my responsibility under the Income-tax Act over once taxes are paid?

Q.18

​Who is an Assessing Officer?

Q.19

​Income-tax is levied on the income of every person. As per Income-tax Law what constitutes income?

Q.20

​What is exempt income and taxable income?

Q.21

What is revenue receipt and capital receipt?

Q.22

Are all receipts, i.e., capital and revenue receipts, charged to tax?

Q.23

I am an agriculturist. Is my income taxable?

Q.24

Under the Income-tax Law is income from animal husbandry conside​​red as an agricultural income?​

Q.25

Do I need to maintain any records or proof of earnings?

Q.26

As an agriculturist, am I required to maintain any proof of earnings and expenditures incurred?

Q.27

If I win a lottery or prize money in a competition, am I required to pay Income-tax on it?

Q.28

If my income is taxed in India as well as abroad, can I claim any sort of relief on account of double taxation?

Q.29

What does Profession mean?

Q.30

​What books of account have been prescribed to be maintained by a person carrying on business/profession under the Income-tax Act?

Q.31

Where should the books of account of business be kept and for how long?

 

FAQs on the 'Income Declaration Scheme, 2016'

FAQs on the Income Declaration Scheme, 2016

Q.1

Where an undisclosed income in the form of investment in asset is declared under the Scheme and tax, surcharge and penalty is paid on the fair market value of the asset as on 01.06.2016, then will the declarant be liable for capital gains on sale of such asset in the future? If yes, then how will the capital gains in such case be computed?​​

Q.2

Where a notice under section 142(1)/ 143(2)/ 148/ 153A/ 153C of the Income-tax Act has been issued to a person for an assessment year will he be ineligible from making a declaration under the Scheme?

Q.3

As per the Scheme, declaration cannot be made where an undisclosed asset has been acquired during any previous year relevant to an assessment year for which a notice under section 142, 143(2), 148, 153A or 153C of the Income-tax Act has been issued. If the notice has been issued but not served on the declarant then how will he come to know 4whether the notice has been issued?

Q.4

In a case where the undisclosed income is represented in the form of investment in asset and such asset is partly from income that has been assessed to tax earlier, then what shall be the method of computation of undisclosed income represented by such undisclosed asset for the purposes of the Scheme?

Q.5

Can a declaration be made of undisclosed income which has been assessed to tax and the case is pending before an Appellate Authority?

Q.6

Can a person against whom a search/ survey operation has been initiated file declaration under the Scheme?

Q.7

Where a search/ survey operation was conducted and the assessment has been completed but certain income was neither disclosed nor assessed, then whether such unassessed income can be declared under the Scheme?

Q.8

What are the consequences if no declaration under the Scheme is made in respect of undisclosed income prior to the commencement of the Scheme?

Q.9

If a declaration of undisclosed income is made under the Scheme and the same was found ineligible due to the reasons listed in section 196 of the Finance Act, 2016, then will the person be liable for consequences under section 197(c) of the Finance Act, 2016?

Q.10

If a person declares only a part of his undisclosed income under the Scheme, then will he get immunity under the Scheme in respect of the part income declared?

Q.11

Can a person declare under the Scheme his undisclosed income which has been acquired from money earned through corruption?

Q.12

Whether at the time of declaration under the Scheme, will the Principal Commissioner/Commissioner do any enquiry in respect of the declaration made?

Q.13

Will the declarations made under the Scheme be kept confidential?

Q.14

14. Is it necessary to file a valuation report of an undisclosed income represented in the form of investment in asset along with the declaration under the Scheme?

 

FAQs on 'Filing the Return of Income'

FAQs on ‘Filing the Return of Income’

Q.1

What is a return of income?

Q.2

​What are the forms of return prescribed under the Income-tax Law?

Q.3

​From where can I get a return form?

Q.4

​What are the different modes of filing the return of income?

Q.5

​For whom e-filing of return is mandatory?

Q.6

​Is it necessary to attach any documents along with the return of income?

Q.7

​Where and how am I supposed to file my return?

Q.8

​Who can use ITR – 1 (SAHAJ)?

Q.9

​Who cannot use ITR – 1 (SAHAJ)?

Q.10

​Who can not use ITR-2A?

Q.11

Who can use ITR-2A?​​

Q.12

​Who can use ITR – 2?

Q.13

​Who cannot use ITR – 2?

Q.14

​Who can use ITR – 3?

Q.15

​Who cannot use ITR – 3?

Q.16

​Who can use ITR – 4S (SUGAM)?

Q.17

​Who cannot use ITR – 4S (SUGAM)?

Q.18

​Who can use ITR – 4?

Q.19

​Who cannot use ITR – 4?

Q.20

​Who can use ITR – 5?

Q.21

​Who cannot use ITR – 5?

Q.22

​Who can use ITR – 6?

Q.23

​Who cannot use ITR – 6?

Q.24

​Who can use ITR – 7?

Q.25

​Who cannot use ITR – 7?

Q.26

​How to file the return of income electronically?

Q.27

​What is e-filing utility provided by the Income-tax Department?

Q.28

​Is there any e-filing help desk established by the Income-tax Department?

Q.29

​What is the difference between e-filing and e-payment?

Q.30

​Will I be put to any disadvantage by filing my return?

Q.31

​What are the benefits of filing my return of income?

Q.32

​What are the benefits of e-filing the return of income?

Q.33

​Is it necessary to file return of income when I do not have any positive income?

Q.34

​What are the due dates for filing returns of income/loss?

Q.35

If I fail to furnish my return within the due date, will I be fined or penalized?

Q.36

​Can a return be filed after the due date?

Q.37

​If I have paid excess tax how will it be refunded to me?

Q.38

​If I have committed any mistake in my original return, am I permitted to file a revised return to correct the mistake?​

Q.39

​How many times can I revise the return?

Q.40

​Am I required to keep a copy of the return filed as proof and for how long?

Q.41

​There are various deductions that are not reflected in the Form 16 issued by my employer. Can I claim them in my return?

Q.42

​Why is return filing mandatory, even though all my taxes and interests have been paid and there is no refund due to me?

Q.43

​Am I liable for any criminal prosecution [arrest/imprisonment, etc.] if I don’t file my Income-tax return, even though my income is taxable?

Q.44

​What is Form 26AS?

Q.45

​What to do if discrepancies appear in actual TDS and TDS credit as per Form 26AS?

Q.46

​What precautions should be taken while filing the return of income?

 

FAQs on 'Tax Deducted at Source' (TDS)

FAQs on ‘Tax Deducted at Source’ (TDS)’

Q.1

What is tax deducted at source?

Q.2

​What are the payments covered under the TDS mechanism and the rates for deduction of tax at source?

Q.3

​Is there any minimum amount upto which tax is not deducted?

Q.4

​Can the payee request the payer not to deduct tax at source and to pay the amount without deduction of tax at source?

Q.5

​What are the consequences a deductor would face if he fails to deduct TDS or after deducting the same fails to deposit it to the Government’s account?

Q.6

​Under what circumstances a deductor would not be deemed as an assessee-in-default even after he fails to deduct TDS or after deducting the same fails to deposit it to the Government’s account?

Q.7

​What to do if tax is deducted but the ultimate tax liability of the payee is nil or lower than the amount of TDS?

Q.8

​If the payer does not deduct tax at source, will the payee face any adverse consequences by means of action taken by the Income-tax Department?

Q.9

​What are the duties of the person deducting tax at source?

Q.10

​How can I know the quantum of tax deducted from my income by the payer?

Q.11

​What to do if the TDS credit is not reflected in Form 26AS?

Q.12

​At what rate the payer will deduct tax if I do not furnish my Permanent Account Number to him?

Q.13

However, the provisions of section 206AA shall not apply to a non-resident, not being a company, or to a foreign company, in respect of—

Q.14

​I do not have PAN. Can I furnish Form 15G/15H for non-deduction of TDS from interest?

Q.15

Would I face any adverse consequences if instead of depositing TDS in the government's account I use it for my personal needs?

Q.16

​I have not received TDS certificate from the deductor. Can I claim TDS in my return of income?

Q.17

​If I buy any land/building then is there any requirement to deduct tax from the sale proceeds to be paid by me to the seller?

Q.18

​What is the difference between PAN and TAN?

 
 

FAQs on ‘Income From House Property'

FAQs on Income from ‘House Property’

Q.1

Is rental income from sub-letting chargeable to tax under the head “Income from house property”?

Q.2

Whether rental income could be charged to tax in the hands of a person who is not a registered owner of the property?​

Q.3

​Under which head is the rental income from a shop charged to tax?

Q.4

​What is the tax treatment of composite rent when the composite rent pertains to letting of building along with other assets?

Q.5

What is the tax treatment of composite rent when the composite rent pertains to letting out of building along with charges for provision of services?

Q.6

​How to compute income from a property which is let out throughout the year?

Q.7

​How to compute gross annual value of a property which is let-out throughout the year?

Q.8

How to compute reasonable expected rent while computing gross annual value of a property which is let-out throughout the year. ? ​

Q.9

How to compute actual rent while computing gross annual value of a property which is let-out throughout the year?

Q.10

​How to compute gross annual value of a property which is let-out throughout the year?

Q.11

​How to compute the gross annual value in the case of a property which is vacant for some time during the year?

Q.12

​While computing income chargeable to tax under the head “Income from house property” in the case of a let-out property, what are the expenses to be deducted from gross annual value?

Q.13

​Can interest paid on loans taken from friends and relatives be claimed as deduction while calculating house property income?

Q.14

​While computing income chargeable to tax under the head “Income from house property” in the case of a let-out property, how much interest on housing loan can be claimed as deduction?

Q.15

​What is pre-construction period?

Q.16

​My spouse and I jointly own a house in which both of us have invested equally out of independent sources. Can the rental income received be split up between us and taxed in the individual hands?

Q.17

​What is self-occupied property?

Q.18

​How to compute income from self occupied property?

Q.19

​Can a property not used for residence by the taxpayer be treated as self occupied property?

Q.20

​What income is charged to tax under the head “Income from house property”?

Q.21

​What will be the tax implications if a person occupies more than one property for his residence? Can he treat all the properties as self occupied (SOP) and claim gross annual value (GAV) as Nil?

Q.22

​I own two houses. One is a farmhouse that I visit on weekends and the other is in the city that I use on weekdays. Is it correct to treat both these residences as self occupied?

Q.23

​I own two houses both of which are occupied by me and my family. Is there any tax implication?

Q.24

​In case of a self-occupied property, how much of interest on housing loan can be claimed as deduction?

Q.25

​How to compute income from a property which is self-occupied for part of the year and let out for part of the year?

Q.26

​How to compute income from a property, when part of the property is self-occupied and part is let-out?

Q.27

​What is the tax of treatment of unrealised rent which is subsequently realised?

Q.28

​I have 5 separate let out properties. Should I calculate the house property income separately for each individual property or by clubbing all the rental receipts in one calculation?

Q.29

​What is the tax treatment of arrears of rent?

 

FAQs on 'Tax on Presumptive Taxation Scheme'

FAQs on Tax on ‘Presumptive Taxation Scheme’

Q.1

What is the meaning of presumptive taxation scheme?

Q.2

​Who is eligible to take advantage of the presumptive taxation scheme of section 44AD?

Q.3

​Which businesses are not eligible for presumptive taxation scheme?

Q.4

​Can an insurance agent adopt the presumptive taxation scheme of section 44AD?

Q.5

​Can a person engaged in a profession as prescribed under section 44AA(1) adopt the presumptive taxation scheme of section 44AD?

Q.6

​Can a person whose total turnover or gross receipts for the year exceed Rs. 2,00,00,000 adopt the presumptive taxation scheme of section 44AD?

Q.7

​What is the manner of computation of taxable business income under the normal provisions of the Income-tax Law, i.e., in case of a person not adopting the presumptive taxation scheme of section 44AD?

Q.8

​What is the manner of computation of taxable business income in case of a person adopting the presumptive taxation scheme of section 44AD?

Q.9

​As per the presumptive taxation scheme of section 44AD, income of a taxpayer will be computed @ 8% of the turnover or gross receipt and from the income of 8% can the taxpayer claim any further deductions?

Q.10

​If a person adopts the presumptive taxation scheme of section 44AD, then is he required to maintain books of account as per section 44AA?

Q.11

​If a person adopts the presumptive taxation scheme of section 44AD, then is he liable to pay advance tax in respect of income from business covered under section 44AD?

Q.12

What provisions will apply if a person who is eligible for the presumptive taxation scheme of section 44AD declares his income at a lower rate (i.e. less than 8%)?

Q.13

If a person adopts the presumptive taxation scheme but he opts out from the scheme in any of the subsequent five years, then what are the consequences?

Q.14

Who is eligible to take advantage of the presumptive taxation scheme of section 44ADA?

Q.15

What is the manner of computation of taxable income in case of a person adopting the presumptive taxation scheme of section 44ADA?

Q.16

Can a person who adopts the presumptive taxation scheme of section 44ADA claim any further deduction of expenses after declaring profit @ 50% of gross receipts?

Q.17

If a person adopts the presumptive taxation scheme of section 44ADA, then is he liable to pay advance tax in respect of income from profession covered under section 44ADA?

Q.18

If a person adopts the presumptive taxation scheme of section 44ADA, then he is required to maintain books of account as per section 44AA?

Q.19

What provision will apply if a person opt for the presumptive taxation scheme of section 44ADA and declares his income from profession at lower rate (i.e. less than 50%)?

Q.20

​For whom the presumptive taxation scheme of section 44AE is designed?

Q.21

​Who is eligible to take advantage of the presumptive taxation scheme of section 44AE and which business is eligible for the presumptive taxation scheme of section 44AE?

Q.22

​Can a person who owns more than 10 goods vehicles adopt the presumptive taxation scheme of section 44AE?

Q.23

​What is the manner of computation of taxable business income in case of a person adopting the presumptive taxation scheme of section 44AE?

Q.24

​As per the presumptive taxation scheme of section 44AE, income of a taxpayer will be computed at the rate of Rs. 7,500 per goods vehicle per month and in such a case can the taxpayer claim any further deductions from the presumptive income declared at the prescribed rate?

Q.25

​If a person adopts the presumptive taxation scheme of section 44AE, then is he required to maintain books of account as per section 44AA?

Q.26

​If a person adopts the presumptive taxation scheme of section 44AE, then is he liable to pay advance tax in respect of income from business covered under section 44AE?

Q.27

What provisions will apply if a person does not opt for the presumptive taxation scheme of section 44AE and declares his income at a lower rate?

 

FAQs on 'Gifts received by an Individual' or 'HUF'

FAQs on ‘Gifts Received by an Individual or HUF’

Q.1

Are monetary gifts received by an individual or Hindu Undivided Family (HUF) taxable?

Q.2

​Are there any cases in which sum of money received without consideration, i.e., monetary gift received by an individual or HUF is not charged to tax?

Q.3

​Apart from marriage are there any other occasions in which monetary gift received by an individual will not be charged to tax?

Q.4

​Are monetary gifts received from friends liable to tax?

Q.5

​Are monetary gifts received from abroad liable to tax?

Q.6

​An Individual received different gifts (cash) from his friends, none of the gift exceeded Rs. 50,000 but the total of the gifts received during the year exceeded Rs. 50,000. What will be the tax treatment in such a case?

Q.7

​If the aggregate value of gift received during the year by an individual or HUF exceeds Rs. 50,000, whether total amount of gift will be charged to tax or only the amount in excess of Rs. 50,000 will be charged to tax?

Q.8

​Are gifts of immovable property received by an individual or HUF charged to tax?

Q.9

​Are there any cases in which the value of immovable property received by an individual or HUF without consideration (i.e. by way of gift) is not charged to tax?

Q.10

​An individual received gift of three properties from his friend. The value of none of the property exceeded Rs. 50,000, but the aggregate value of these three properties exceeded Rs. 50,000. What will be the tax treatment of gift in this case?

Q.11

​Are gifts of immovable property located abroad liable to tax?

Q.12

​An Individual received gift of a flat from his friend. The stamp duty value of the flat is Rs. 84,000. In this case whether the total value of gifted property will be charged to tax or only the value in excess of Rs. 50,000 will be charged to tax?

Q.13

​Would any taxability arise if an immovable property is received for less than its stamp duty value?

Q.14

​Are there any cases in which immovable property received by an individual or HUF for less than its stamp duty value is not charged to tax?​

Q.15

​Are gifts of movable property received by an individual or HUF charged to tax?

Q.16

​Are there any cases in which the value of prescribed movable property received without consideration, i.e., received as gift by an individual or HUF is not charged to tax?

Q.17

​An individual received gift of jewellery from his friends. The total value of jewellery received during the year as gift from all the friends amounted to Rs. 84,000. What will be the tax treatment of gift in this case?

Q.18

​Does any taxability arise if prescribed movable property is received by an individual or HUF for less than its fair market value?

 

FAQs on 'Capital Gains'

FAQs on ‘Capital Gains’

Q.1

What incomes are charged to tax under the head “Capital Gains”?

Q.2

​What is the meaning of capital asset?

Q.3

​What is the meaning of the term ‘long-term capital asset’?

Q.4

​What is the meaning of the term ‘short-term capital asset’?

Q.5

​What is long-term capital gain and short-term capital gain?

Q.6

​Why capital gains are classified as short-term and long-term?

Q.7

​How to compute long-term capital gain?​

Q.8

How to compute short-term capital gain?​

Q.9

​Is the benefit of indexation available while computing capital gain arising on transfer of short-term capital asset?

Q.10

​In respect of capital asset acquired before 1st April, 1981 is there any special method to compute cost of acquisition?

Q.11

If any undisclosed income [in the form of investment in capital asset] is declared under Income Declaration Scheme, 2016, then what should be the cost of acquisition of such capital asset?

Q.12

​As per the Income-tax Law, gain arising on transfer of capital asset is charged to tax under the head “Capital gains”. What constitutes ‘transfer’ as per Income-tax Law?

Q.13

​What are the provisions relating to computation of capital gain in case of transfer of asset by way of gift, will, etc.?

Q.14

​I have sold a house which had been purchased by me 5 years ago. Am I required to pay any tax on the profit earned by me on account of such sale?

Q.15

​Are any capital gains exempt under section 10?

Q.16

​At what rates capital gains are charged to tax?

Q.17

​Is there any benefit available in respect of re-investment of capital gain in any other capital asset?

Q.18

​Are there any bonds in which I can invest my capital gains to claim tax relief?

Q.19

​What is the meaning of stamp duty value and what is its relevance while computing capital gain in case of transfer of capital asset, being land or building or both?

 
 

FAQs on ‘Set Off and Carry Forward of Losses’

FAQs on ‘Set Off and Carry Forward of Losses’

Q.1

If income from any source is exempt, then can loss from such source be adjusted against any other taxable income?

Q.2

​What is the meaning of inter-source adjustment?

Q.3

​What are the restrictions to be kept in mind while making inter-source adjustment of loss?

Q.4

​What is the meaning of inter-head adjustment?

Q.5

​If the income of the year in which loss is incurred falls short, and taxpayer is unable to adjust entire loss, then can the taxpayer carry forward the unadjusted loss for adjustment in next year?

Q.6

​What are the provisions framed under the Income-tax law in relation to carry forward and set off of business loss other than loss from speculative business?

Q.7

​What are the provisions framed under the Income-tax law in relation to carry forward and set off of loss from speculative business?

Q.8

​What are the provisions framed under the Income-tax Law in relation to carry forward and set off of house property loss?​

Q.9

​What are the provisions framed under the Income-tax law in relation to carry forward and set off of capital loss?

Q.10

​What is the meaning of unabsorbed depreciation, unabsorbed capital expenditure on scientific research and unabsorbed capital expenditure on promoting family planning amongst the employees?

Q.11

​What are the provisions framed under the Income-tax Law relating to set off of unabsorbed depreciation, unabsorbed capital expenditure on scientific research and unabsorbed capital expenditure on promoting family planning amongst the employees?

Q.12

​In case of change in the constitution of business, can the loss be carried forward by the reconstituted entity?

Q.13

​Are there any special provisions in case of carry forward of loss in case of a partnership firm if any partner of the firm retires?

Q.14

​Are there any special provisions in case of carry forward and set off of loss in case of a company in which public are not substantially interested?

 
 

FAQs on ‘Assessments under the Income-tax Law‘

FAQs on ‘Assessments under the Income-tax Law’

Q.1

What is the meaning of assessment?​

Q.2

​What are the major assessments under the Income-tax Law?​

Q.3

​What is assessment under section 143(1)?​

Q.4

​What is the procedure adopted for making the assessment under section 143(1)?​

Q.5

​What is the time limit for making the assessment under section 143(1)?​

Q.6

​What is assessment under section 143(3)?​​

Q.7

​What is the scope of assessment under section 143(3) i.e. scrutiny assessment?​​

Q.8

​What is the procedure adopted for making the assessment under section 143(3) i.e. scrutiny assessment?​

Q.9

​What is the time limit for making the assessment under section 143(3) i.e. scrutiny assessment?​

Q.10

​What is assessment under section 144?​​

Q.11

​Under what circumstances the Assessing Officer will proceed for making assessment under section 144 i.e. best judgment assessment?​​

Q.12

​What is the procedure adopted for making the assessment under section 144 i.e. best judgment assessment?​

Q.13

​What is the time limit for making the assessment under section 144 i.e. best judgment assessment?​

Q.14

What is assessment under section 147? ​

Q.15

​What are the circumstances under which assessment under section 147 i.e. income escaping assessment can be carried out?​

Q.16

What is the procedure adopted for making the assessment under section 147 i.e. income escaping assessment?​

Q.17

​What is the time limit for making the assessment under section 147 i.e. income escaping assessment?​

Q.18

​What recourse is available to me if I am not satisfied with the order passed by my Assessing Officer?

 

FAQs on Provisions Useful for Non-Residents

FAQs on ‘Provisions Useful for Non-Residents’

Q.1

Is the residential status of a person relevant for determining the taxability of the income in his hands? ​

Q.2

​What are the different classes of residential status prescribed under the Income-tax Law for an individual?​

Q.3

​Will a person holding Indian citizenship be treated as a resident in India for the purpose of charging Income-tax?​

Q.4

​What are the different classes of residential status prescribed under the Income-tax Law for a Hindu Undivided Family (HUF)?​

Q.5

What are the different classes of residential status prescribed under the Income-tax Law for a person other than an individual or a HUF?​​​

Q.6

​How to determine the residential status of an Individual?​​

Q.7

​How to determine the residential status of a HUF for the purpose of the Income-tax Law?​​

Q.8

​How to determine the residen​tial status of a company?​​

Q.9

​How to determine the residential status of a person other than an individual, HUF and company?​​

Q.10

​Which incomes are charged to tax in India in the hands of a taxpayer?​​

Q.11

​Which incomes are deemed to be received in India?​​

Q.12

​What incomes are deemed to have accrue or arise in India?​​

Q.13

​When is a business connection said to be established?​

Q.14

What are the other provisions under the Income-tax Act which are applicable to a Non-Resident?

Q.15

What is the objective of FEMA?​​

Q.16

​What is capital account transaction?​​

Q.17

​What is current account transaction?​

Q.18

​What are the major provisions covered in FEMA, 1999?​

 
 
 

FAQs on TAN'

FAQs on ‘TAN’

Q.1

What is TAN?​

Q.2

Who must apply for TAN?

Q.3

Why is it necessary to have TAN?

Q.4

How to apply for TAN?

Q.5

​Who will allot TAN?

Q.6

​Can an online application be made for allotment of TAN?

Q.7

​​Can an application for TAN be made on a plain paper?

Q.8

Can form 49B be filled on a typewriter?

Q.9

​What are the documents that need to accompany the TAN application?​​

Q.10

What if incomplete form 49B is submitted?​

Q.11

What is the fee for filing application for TAN?

Q.12

How will the new TAN be intimated to the deductor?

Q.13

How can a deductor know his TAN if he has an old TAN, or if he has earlier applied for TAN but hasn't got TAN?

Q.14

After making the application for allotment of TAN in Form 49B, how to know the status of the application?

Q.15

Is it necessary to apply for different TAN if a deductor has to deduct tax from different types of payments like salary, interest, dividend, commission, etc.?

Q.16

Is a separate TAN required to be obtained for the purpose of tax collection at source?

Q.17

Should Government deductors apply for TAN?

Q.18

In case of multiple DDOs, should all of them apply for TAN?

Q.19

Can branches of companies/banks have separate TANs?

Q.20

Can an e-TDS return be filed without TAN or in case TAN has not been alloted?

Q.21

What is duplicate TAN?

Q.22

In case duplicate TAN has been allotted, which TAN should be used?

Q.23

What do we have to do if we have been allotted a duplicate TAN by oversight?

Q.24

Can we quote Permanent Account Number (PAN) in place of TAN?

Q.25

How can any change in address or details on the basis of which TAN was allotted be rectified?

 

FAQs on Permanent Account Number (PAN)

FAQs on ‘Permanent Account Number’ (PAN)

Q.1

What is PAN?

Q.2

​What is the utility of PAN?

Q.3

​What are the benefits of obtaining a Permanent Account Number [PAN] and PAN Card?

Q.4

​How PAN is formed and how it gets its unique identity?

Q.5

​Who has to obtain PAN?

Q.6

​What are the specified financial transactions in which quoting of PAN is mandatory?

Q.7

​How does Income Tax Department ensure that PAN is quoted on transactions in which quoting of PAN is mandatory?

Q.8

​Can I file my return of income without quoting PAN?

Q.9

How to apply for PAN?​

Q.10

​Are there any charges to be paid for obtaining the PAN?

Q.11

​​Is there any TATKAL facility for allotment of PAN?

Q.12

​Can an application for PAN be made on plain paper?

Q.13

​What if I submit incomplete PAN application i.e. Form 49A/49AA?

Q.14

​Is it necessary to fill the PAN application form i.e. Form 49A/49AA in block letters?

Q.15

​What documents and information have to be submitted along with the PAN application in Form 49A/49AA?

Q.16

​What documents will serve as proof of identity in case of individual/HUF (Hindu Undivided Family) applicants?

Q.17

​What documents will serve as proof of address in case of individual/HUF applicants?

Q.18

​What documents will serve as proof of date of birth in case of individual applicants?

Q.19

​What documents are to be submitted in case of applicant other than individual/HUF?

Q.20

​What documents will serve as proof of identity in case of individuals not being a citizen of India?

Q.21

​What documents will serve as proof of address in case of individuals not being a citizen of India?

Q.22

​What documents will serve as the relevant proofs in case of applicants being entities incorporated outside India/Unincorporated entities formed outside India?

Q.23

​Is it mandatory to provide the Assessing Officer Code in Form 49A/49AA?

Q.24

​Should married female provide father’s name?

Q.25

​Who can apply on behalf of non-resident, minor, lunatic, idiot, and court of wards?

Q.26

​Who has to sign the PAN application i.e. Form 49A/49AA?

Q.27

​How to sign the PAN application i.e. Form 49A/49AA?

Q.28

​After making the PAN application how can I check the status of my PAN application?

Q.29

​Is it mandatory to file return of income after getting PAN?

Q.30

​Should I intimate my PAN to deductor i.e. person deducting tax?

Q.31

​If my PAN card is lost then what to do?

Q.32

​What is the validity of PAN?

Q.33

​Should I intimate the Income Tax Department if there is any change in the details provided at the time of allotment of PAN?

Q.34

What is the penalty for not complying with the provisions relating to PAN?

Q.35

​Can a person hold more than one PAN?​

Q.36

​By mistake I have been using different PANs for different purposes like one for my demat account and another for filing my Income-tax return and payment of taxes. How do I set this right?

Q.37

​What to contact in case of any matter relating to PAN?

 
 
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