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PAN Made Easy for Non-resident Indians - PAN or Permanent account Number is issued by income tax department of the government of India to individuals and businesses
PAN Made Easy for Non-resident Indians

 

NewswireToday - /newswire/ - New Delhi, India, 2007/01/15 - PAN or Permanent account Number is issued by income tax department of the government of India to individuals and businesses.

   
 
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With a view to check tax evasion, as also to facilitate tax administration, it has been made mandatory for assesses to get allotted Permanent Account Numbers (PAN) from the Income Tax Department.

For this purpose, those who have not been allotted Permanent Account Numbers so far and who estimate their income for the year to be more than the maximum amount not chargeable to Income Tax (the present limit is Rs. 100,000/-) or whose turnover / gross receipts in business / profession are or are to exceed Rs.5,00,000/- likely are required to apply for allotment of Permanent Account Numbers in the prescribed form (Form No. 49A) to the Assessing officer having jurisdiction over the person. The government may notify any class of persons such as importers, exporters, etc. Whether tax is payable by them or not, requiring them to apply for PAN.

Every person who meets one of the following criteria has to apply for PAN (i) If his total income or the total income of any other person in respect of which he is assessable under this Act during any previous year exceeded the maximum amount which is not chargeable to income tax; or (ii) Carrying on any business or profession whose total sales, turnover or gross receipts are or is likely to exceed Rs. 500,000/- in any previous year; or (iii) Who is required to furnish a return of income under sub-section (4A) of section 139; or (iv) Being an employer, who is required to furnish a return of fringe benefits under section 115WD.

The Income Tax Department has recently started delivering PAN cards to addresses outside India. With this development, need for representative assessee or an active address in India as a prerequisite of PAN application, have been done away with. D. Batra & Co. now comes in assistance for those living abroad desirous of holding a PAN issued by the Income Tax Department, Government of India. PAN can now be obtained just by giving requisite information online. PAN card is allotted within 6 working days from the date of submission of requisite valid information. Those desirous of getting delivered PAN cards outside India can pay Postal/ Courier charges along with the PAN processing fees online thru wire transfers, Paypal accounts and credit cards. D. Batra & Co. (dbatra.com) has gone a long way in automating the entire PAN application process in line with the automation efforts undertaken by the Revenue Departments, Government of India.

 
 
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PAN Made Easy for Non-resident Indians

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Publisher Contact: Dinesh Batra - Dbatra.com 
+91 98 11045213 email[.]dbatra.com
 
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IMPORTANT INFORMATION: Issuance, publication or distribution of this press release in certain jurisdictions could be subject to restrictions. The recipient of this press release is responsible for using this press release and the information herein in accordance with the applicable rules and regulations in the particular jurisdiction. This press release does not constitute an offer or an offering to acquire or subscribe for any D Batra & Co. securities in any jurisdiction including any other companies listed or named in this release.

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