Income Tax :- Mother's Name in PAN application alongwith Brith Certificate etc.

Friends,   CBDT has issued Notification No. 26 dated 16.05.2014 regarding some amendment in PAN application form 49A or 49AA.  Now, Mother's name will be available on PAN card if filled in PAN application.  It is optional.   Detail of notification is given below :- 

[TO BE PUBLISHED IN THE GAZETTE OF INDIA, EXTRAORDINARY PART II, 

SECTION 3, SUB-SECTION (ii)] 

 

GOVERNMENT OF INDIA 

MINISTRY OF FINANCE 

DEPARTMENT OF REVENUE 

CENTRAL BOARD OF DIRECT TAXES 

 

 Notification 

 

 

New Delhi, the 16th day of May, 2014 

 

 

     S.O. 2045 (E)- In exercise of the powers conferred by section 295 of the Income-tax Act, 1961 (43 of 1961), the Central Board of Direct Taxes hereby makes the following rules  further to amend the Income-tax Rules, 1962, namely:- 

 

1.  (1) These rules may be called the Income –tax (5th Amendment) Rules, 2014. 

     (2) They shall come into force on the date of their publication in the Official Gazette. 

 

2. In the Income-tax Rules, 1962, in Appendix II, for Forms 49A and 49AA, the following  Forms shall be substituted, namely:- 

 

 Download complete Notification with form 49A & 49AA

 [Notification No. 26/2014][F.No.142/15/2013-TPL] 

 

 [Ashis Mohanty] 

 Under Secretary to Government of India 

 

Note: - The principal rules were published vide Notification S.O. 969 (E), dated 26th March, 1962 and last amended by Income-tax (4th Amendment) Rules, 2014 vide Notification S.O. 997 (E), dated the 1st April, 2014. 

 

Documents required for PAN application 

Document acceptable as proof of identity, proof of address and proof of date of birth as per Rule 114 of Income Tax Rules, 1962, for individual and HUF applicants.

Proof of Identity Proof of Address Proof of date of birth Indian Citizens (including those located outside India) (i) Copy of (i) Copy of (i) Copy of a. Aadhaar Card issued by the Unique Identification Authority of India; or a. Aadhaar Card issued by the Unique Identification Authority of India; or a. Birth Certificate issued by the Municipal Authority or any office authorized to issue Birth and Death Certificate by the Registrar of Birth and Death or the Indian Consulate as defined in clause (d) of sub-section (1) of session 2 of the Citizenship Act, 1955 (57 of 1955); or b. Elector’s photo identity card; or b. Elector’s photo identity card; or b. Pension payment order; or c. Driving License; or c. Driving License; or c. Marriage certificate issued by Registrar of Marriages; or d. Passport; or d. Passport; or d. Matriculation Certificate; or e. Ration card having photograph of the applicant; or e. Passport of the spouse; or e. Passport; or f. Arm’s license; or f. Post office passbook having address of the applicant; or f. Driving License; or g. Photo identity card issued by the Central Government or State Government or Public Sector Undertaking; or g. Latest property tax assessment order; or g. Domicile Certificate issued by the Government; or h. Pensioner card having photograph of the applicant; or h. Domicile certificate issued by the Government; or h. Affidavit sworn before a magistrate stating the date of birth i. Central Government Health Scheme Card or Ex-Servicemen Contributory Health Scheme photo card i. Allotment letter of accommodation issued by the Central Government or State Government of not more than three years old; or j. Property Registration Document; or (ii) Certificate of identity in Original signed by a Member of Parliament or Member of Legislative Assembly or Municipal Councilor or a Gazetted officer, as the case may be (in prescribed format) ; or (ii) Copy of following documents of not more than three months old (a) Electricity Bill; or (b) Landline Telephone or Broadband connection bill; or (c) Water Bill; or (d) Consumer gas connection card or book or piped gas bill; or (e) Bank account statement or as per Note 2 ; or (f) Depository account statement; or (g) Credit card statement; or (iii) Bank certificate in Original on letter head from the branch(alongwith name and stamp of the issuing officer) containing duly attested photograph and bank account number of the applicant (in prescribed format). (iii) Certificate of address signed by a Member of Parliament or Member of Legislative Assembly or Municipal Councilor or a Gazetted officer, as the case may be (in prescribed format) or (iv) Employer certificate in original(in prescribed format). Note: Note: 1. In case of Minor, any of the above mentioned documents as proof of identity and address of any of parents/guardians of such minor shall be deemed to be the proof of identity and address for the minor applicant. 1. Proof of Address is required for residence address mentioned in item no. 7. 2. For HUF, an affidavit made by the Karta of Hindu Undivided Family stating name, father’s name and address of all the coparceners on the date of application and copy of any of the above documents in the name of Karta of HUF is required is required as proof of identity, address and date of birth. 2. In case of an Indian citizen residing outside India, copy of Bank Account Statement in country of residence or copy of Non-resident External (NRE) bank account statements (not more than three months old) shall be the proof of address.

Document acceptable as proof of identity and address as per Rule 114 of Income Tax Rules, 1962 for other than individual and HUF applicants

Sr. No. Status of applicant Proof of Identity & Proof of Address 1. Company Copy of Certificate of Registration issued by the Registrar of Companies. 2. Partnership Firm Copy of Certificate of Registration issued by the Registrar of Firms or Copy of partnership deed. 3. Limited Liability Partnership Copy of Certificate of Registration issued by the Registrar of LLPs 4. Association of Persons (Trust) Copy of trust deed or copy of certificate of registration number issued by Charity Commissioner. 5 Association of Person, Body of Individuals, Local Authority, or Artificial Juridical Person Copy of Agreement or copy of certificate of registration number issued by charity commissioner or registrar of cooperative society or any other competent authority or any other document originating from any Central or State Government Department establishing identity and address of such person.

 

 

 

Income Tax :- New Pan Application Form 49A

Friends,   New PAN allotment procedure has been implemented w.e.f.  03.02.2014 vide which original documents along with self attested copies of Proof of Identify (POI), Proof of Address (POA) and Date of Birth (DOB) is to be submitted for verification at the counter of PAN facilitation centers.  Income Tax Department has also provided new format of PAN Application alongwith Annexure A and Annexure B. 

Annexure-A contains Certificate to be used by a Member of Parliament/Member of Legislative Assembly/Municipal Councillor or Gazetted Officer under sub-rule (4) of rule 114 of the Income-tax Rules, 1962

Annexure -B contains Certificate to be used by the employer on the letter head of the organisation/

institution under sub-rule (4) of rule 114 of the Income-tax Rules, 1962

Download New Format of  Form 49A (Click Here)

PAN:- Nature of Financial Transactions for quoting Compulsory PAN

Financial   transactions   where   quoting   of   PAN   is mandatory

It is compulsory to quote PAN in all documents pertaining to the following financial transactions :-

(a)   sale or purchase of any immovable property valued at five lakh rupees or more;

(b)       sale or purchase of a motor vehicle or vehicle, [the sale or purchase of a motor vehicle or vehicle does not include two wheeled vehicles, inclusive of any detach¬able side-car having an extra wheel, attached to the motor vehicle;

(c)        a time deposit, exceeding fifty thousand rupees, with a banking company ;

(d)       a deposit, exceeding fifty thousand rupees, in any account with Post Office Savings Bank;

(e)       a contract of a value exceeding one lakh rupees for sale or purchase of securities;

(f)        opening a bank account;

(g)       making an application for installation of a telephone connection (including a cellular telephone connection);

(h) payment to hotels and restaurants against their bills for an amount exceeding twenty-five thousand rupees at any one time ;

(i) payment in cash for purchase of bank drafts or pay orders or banker's cheques for an amount aggregating fifty thousand rupees or more during any one day;

(j) deposit in cash aggregating fifty thousand rupees or more with a bank during any one day;

(k) payment in cash in connection with travel to any foreign country of an amount exceeding twenty-five thousand rupees at any one time.

(l) making an application to any banking company to which the Banking Regulation Act, 1949 (10 of 1949), applies (including any bank or banking institution referred to in section 51 of that Act) or to any other company or institution, for issue of a credit or debit card;

(m) payment of an amount of fifty thousand rupees or more to a Mutual Fund for purchase of its units;

(n) payment of an amount of fifty thousand rupees or more to a company for acquiring shares issued by it;

(o) payment of an amount of fifty thousand rupees or more to a company or an institution for acquiring debentures or bonds issued by it;

(p) payment of an amount of fifty thousand rupees or more to the Reserve Bank of India, constituted under section 3 of the Reserve Bank of India Act, 1934 (2 of 1934) for acquiring bonds issued by it;

(q) payment of an amount aggregating fifty thousand rupees or more in a year as life insurance premium to an insurer as defined in clause (9) of section 2 of the Insurance Act, 1938 (4 of 1938);

(r)    payment to a dealer,

           (i)    of an amount of five lakh rupees or more at any one time; or

        (ii)    against a bill for an amount of five lakh rupees or more, for purchase of bullion or jewellery:

New Notification for PAN Application (Form 49A and Form 49AA)

             New Notification for apply New PAN Card has been issued by The Income Tax Department.  New Form 49A and Form 49AA have been issued by the Income Tax Department alongwith their Instructions in Hindi and English.   Now question arise that what is new in New Form 49A or Form 49AA or in Instructions.  Some details which are in change are detailed given below :-

High Lights in Instructions or in New Forms

1. Form to be filled in Black Ink preferably earlier it was mandatory. 
2. Now Two recent colour photographs will be affixed instead of One pcs.
3. Signature/Left Hand thumb impression should be provided across the photo affixed on the left side of the form.
4. Signature /Left hand thumb impression should be within the box provided on the right side of the form.  The signature should not be on the photograph affixed on right side of the form.   
5. Abbreviation will not be used in First Name and Last Name.
6. The full name as mentioned in the application will be printed on the PAN Card.
7. Now, Trusts for Date of Creation of Trust Deed. also added in the field of Date of Birth/Incorporation/Agreement/Partnership or trust Deed/Formation of Body of Individuals/Association of Perons. 
8. ZIPCODE.   In case, a foreign address is provided then it is mandatory to provide Country Name alongwith ZIPCODE.
9. Office address is required in case of Individuals having source of Income as salary [Item No.12].
10. Name of Office and Address is mandatory in case of Firm,company, local Authority and Trusts. 
11. Now Country Code is also required alongwith STD Code.  (i.e. 91 is Country Code for India.). 
12. Telephone Number/Mobile Number is required. Earlier only Telephone Number was required.
13. Application Status updates are sent using the SMS facility on the Mobile Numbers mentioned in the Application Form. 
14. In case of 'Limited Liability Partnership', the PAN will be allotted in "Partnership Firm" status. 
15. It will be mandatory to indicate at least one of source of incomes, as mentioned in the form.  In case, the income from Business/Profession is selected by the applicant then an appropriate business profession code should be mentioned.  (i.e.  Code = 01, Business/Profession = Medical Profession and Business)
16. Name and Address of Representative :- Column No. 1 to 12 will contain details of assessee on whose behalf this application is submitted. 
17. KYC Details:- It is mandatory to provide KYC details.   Please refer the guideliness issued by SEBI and Prevention of Money Laundering Act for filling these details. 

Complete Notification                          Instructions                                New Form 49A and 49AA

(in English)                                           (in English)                                              (in English)