Latest Expert Exchange Queries

GST Demo Service software link: https://ims.go2customer.com
Username: demouser Password: demopass
Get your inventory and invoicing software GST Ready from Binarysoft info@binarysoft.com
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) | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing | GST - Goods and Services Tax
 
 
 
 
Popular Search: articles on VAT and GST in India :: ACCOUNTING STANDARD :: VAT RATES :: TAX RATES - GOODS TAXABLE @ 4% :: VAT Audit :: Central Excise rule to resale the machines to a new company :: due date for vat payment :: form 3cd :: empanelment :: list of goods taxed at 4% :: ACCOUNTING STANDARDS :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: TDS :: cpt :: ARTICLES ON INPUT TAX CREDIT IN VAT
 
 
News Headlines »
 All you should know while filing Form GST TRAN-1
 What is Goods and Service Tax?
  Income Tax department open to reducing withholding tax for companies
 How to respond to a tax notice under section 143
 Income-tax (22nd Amendment) Rules, 2017
 All about Exports under GST
 Have you missed the due date of filing your Tax Returns?
 What you should know about income tax refunds
 Income tax scrutiny to remain limited despite surge in returns filed
 Regarding Filing of online return for first quarter of 2017-18 extension upto 01-09-2017
 Deadline to file returns extended to 28 August for biz with transitional

I-T cancels 742,000 duplicate PAN cards
May, 07th 2007
The Income Tax (I-T) Department weeded out more than half of the duplicate PAN (Permanent Account Number) cards that had been detected last fiscal. 
 
Of the 1.31 million duplicate cards that were being used by wily individuals to avoid taxes, the department had cancelled about 742,000 cards as of March this year, against around 10,000 PANs cancelled in the previous year, said a senior I-T official. 
 
Many assesses got duplicate PANs by submitting multiple applications, each giving different particulars. The department decided to undertake an exercise for de-duplication of PANs to clean the database. 
 
The department still has lakhs of duplicate PANs on its database, though it had fixed a deadline of March 31 to complete the process. Mumbai and Delhi together had one lakh such accounts, the official said. 
 
Finance ministry sources said maximum number of duplicate cards were detected in Mumbai (163,000) and Delhi (306,000), which together have highest number of tax payers and contribute over 40 per cent of total direct tax collections. 
 
They said the Income Tax Department could not speed up the process of cancellation of duplicate PANs in small towns due to administrative problems and shortage of staff. 
 
The sources said in towns like Patiala, Shillong, Meerut, Rohtak and Patna, the process of deleting duplicate PANs has now virtually started. 
 
In Patiala alone, the I-T department had found 47,111 duplicate PAN cards, out of which 525 were cancelled at the end of the last financial year. 
 
Official sources admitted that a substantial number of income tax assesses were facing problems in getting refunds due to duplication of PAN cards. The department had decided to stop the payment of refunds in case of duplicate PANs. 
 
The ministry has claimed that field offices have been directed to complete de-duplication exercise in a time bound period. The software in this regard has been enhanced to speed up the de-duplication process, but it could take a couple of months to complete the process, sources said.
 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Web Application Development Web based Software Solution Web Application Deployment Web Application Solutions Web Application Software Development Web Application Deployment Web Application Programming Web Application Design and Development

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