Latest Expert Exchange Queries
sitemapHome | Registration | Job Portal for CA's | Expert Exchange | Currency Converter | Post Matrimonial Ads | Post Property Ads
 
 
News shortcuts: From the Courts | News Headlines | VAT (Value Added Tax) | Service Tax | Sales Tax | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Indirect Tax | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing
 
 
 
 
Popular Search: form 3cd :: ACCOUNTING STANDARD :: ACCOUNTING STANDARDS :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: TDS :: TAX RATES - GOODS TAXABLE @ 4% :: cpt :: VAT Audit :: empanelment :: Central Excise rule to resale the machines to a new company :: articles on VAT and GST in India :: list of goods taxed at 4% :: ARTICLES ON INPUT TAX CREDIT IN VAT :: due date for vat payment :: VAT RATES
 
 
« News Headlines »
 8 benefits you must know about this tax-saving mutual fund
 10 most important income-tax changes which will apply from April 1
 Delhi: 54 CAs, company secretaries on radar in I-T crackdown against black money
 10 Income Tax Rules That Will Change From April. See Details Herea
 Looking for last-minute tax planning with Section 80C investments? Here's help
 Aadhaar mandatory for filing income tax return
 Will Aadhaar linkage solve India's income tax woes?
 GST roll out from July 1 will make goods cheaper: Jaitley
 Aadhaar To Be Mandatory For Filing Income Tax Return, PAN Application
 7 best tax-saving solutions which can help you save money
  No proposal to replace Income Tax with Banking Cash Transaction Tax

PAN card holders to get MIN waiver
February, 22nd 2007
The prevailing confusion over the mutual fund identification number (MIN) is likely to end soon. 
 
It is likely that all cardholders of PAN, the alpha-numerical number issued by the Income Tax Department, would be exempted from having another identification number in the form of MIN. 
 
However, a MIN would be required for all those investors who do not have a PAN but want to invest more than Rs 50,000 in a mutual fund scheme, sources said. 
 
AMFI chairman A P Kurian said, We will be making an announcement soon this week. The KYC norms will continue. He, however, refused to divulge details. 
 
Earlier, finance minister P Chidambaram, during a visit to Mumbai, had said that PAN would be the core number and MIN will act as a prefix or a suffix to the PAN.CVL, the subsidiary of Central Depository Services, which was issuing the MIN, would upgrade its systems to match the criteria mandated by the ministry. 
 
There is, however, a feeling that the ministry could take up the issue with Sebi and discuss various probabilities, including scrapping of the MIN. 
 
PAN displays the name, date of birth and photograph of the cardholder, while the Income Tax Department has stored all relevant information of the holder. 
 
Upgradation of systems by CVL would involve matching these relevant information and creating a combined data base for meeting know your client norms.
 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Binarysoft Technologies - Contact Us

Transfer Pricing | International Taxation | Business Consulting | Corporate Compliance and Consulting | Assurance and Risk Advisory | Indirect Taxes | Direct Taxes | Transaction Advisory | Regular Compliance and Reporting | Tax Assessments | International Taxation Advisory | Capital Structuring | Withholding tax advisory | Expatriate Tax Reporting | Litigation | Badges | Club Badges | Seals | Military Insignias | Emblems | Family Crest | Software Development India | Software Development Company | SEO Company | Web Application Development | MLM Software | MLM Solutions