What is Pan no,as I am from north east India and exempted from Income import tax do I still requirement Pan no to invest?
in Mutual Funds and what exactly are the function of a Pan no.
Answers:
I agree beside "srirama c".
Please appreciate that have PAN do not create any liability on your failure to any PAY Taxes or to database your return. Though for file ITR, PAN is compulsory but not the other method round.
So even if you enjoy PAN, you have need of not record any income excise return till you enjoy taxable income.
As far as my PROFESSIONAL Knowledge go Income duty is applicable to every PART of India and N-E states are not exempted from it. Even J&K is covered by Income Tax Act. Though SIKKIM be exempt nearer but nothing more. Even Sikkim be covered by Income Tax surrounded by 1989
CA. Deepak Bholusaria
Parmanent Account Number (PAN). It is compulsory for investment in MF's from 2nd July 2007. It's an new no. All your investments can be scan underneath duplicate no. You can procure it in a month after applying.
PAN is your Permanent Account number which is used for file returns. For adjectives the investments its needed as the interest you earn will be treated as your income. You can apply for PAN in UTI dune (now AXIS bank).
actually this recent ruling by sebi to present the container no is vey irritating since even for a low amount of rs5000 you are supposed to enjoy your tub no or provide evidence that you own applied for it.the concluding time for have your jar no is dec31 2007.the stated justification for have a vessel number is supposed to be the prevention of money launder but i cant cogitate how 5000 rupees is the spring for such a drastic step.this have be contained by effect singular from july2007.sooner the minimum amount for have a jar number be rs50000 but very soon everything have be changed.adjectives the mutual fund companies are arguing for the date to be extended upto april2008. so far nearby have be no redeploy within the administrator stance.alternatively you can grant form 60 which is also official
PAN is your Permanent Account Number which is also honourable as your valid ID. But it is essential to own a PAN if you aspiration to invest in mutual funds as it is mandatory by SEBI.
PAN No is Permenent Account Number. It is provided by Income Tax Department. And for Mutual Fund Investment & for bread annul above Rs. 50000.00 PAN No is basic.
PAN is compulsory for investment of any amount. There is not spoil contained by applying for PAN, what you really necessitate to check is that, if you hold PAN, but do not own taxable income, do you inevitability to database a income duty return near NIL export tax liability mandatorily or it is ok if you do not report a return. If it is mandatory to wallet a return, you can do so through a professional or through IT department's helper available in a minute for nominal fees. Let us be honest citizen and follow. It is this honesty from general public contained by western world, that have brought them the nouns and comfort even. We involve to be forgiving to find this though as we own difference conditions.
Yes, you enjoy to acquire a PAN number for travelling anywhere in the world. Secondly when you want to settlement next to any soul outside Northeast India they would insist your PAN no and at matching time it help you to establish your identity iwth adjectives details. Having a Pan no is other advantageous rathen then adage I dont require. regard. Sriram.
Sorry. You are not exempted from Income rates because you are from North east.
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Need to know what 1099 form i necessitate for a saloon mortal reprogest?
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I am contained by India & I enjoy income from gross for 10 months & 2 months professional income. which itr to use?
Answers:
I agree beside "srirama c".
Please appreciate that have PAN do not create any liability on your failure to any PAY Taxes or to database your return. Though for file ITR, PAN is compulsory but not the other method round.
So even if you enjoy PAN, you have need of not record any income excise return till you enjoy taxable income.
As far as my PROFESSIONAL Knowledge go Income duty is applicable to every PART of India and N-E states are not exempted from it. Even J&K is covered by Income Tax Act. Though SIKKIM be exempt nearer but nothing more. Even Sikkim be covered by Income Tax surrounded by 1989
CA. Deepak Bholusaria
Parmanent Account Number (PAN). It is compulsory for investment in MF's from 2nd July 2007. It's an new no. All your investments can be scan underneath duplicate no. You can procure it in a month after applying.
PAN is your Permanent Account number which is used for file returns. For adjectives the investments its needed as the interest you earn will be treated as your income. You can apply for PAN in UTI dune (now AXIS bank).
actually this recent ruling by sebi to present the container no is vey irritating since even for a low amount of rs5000 you are supposed to enjoy your tub no or provide evidence that you own applied for it.the concluding time for have your jar no is dec31 2007.the stated justification for have a vessel number is supposed to be the prevention of money launder but i cant cogitate how 5000 rupees is the spring for such a drastic step.this have be contained by effect singular from july2007.sooner the minimum amount for have a jar number be rs50000 but very soon everything have be changed.adjectives the mutual fund companies are arguing for the date to be extended upto april2008. so far nearby have be no redeploy within the administrator stance.alternatively you can grant form 60 which is also official
PAN is your Permanent Account Number which is also honourable as your valid ID. But it is essential to own a PAN if you aspiration to invest in mutual funds as it is mandatory by SEBI.
PAN No is Permenent Account Number. It is provided by Income Tax Department. And for Mutual Fund Investment & for bread annul above Rs. 50000.00 PAN No is basic.
PAN is compulsory for investment of any amount. There is not spoil contained by applying for PAN, what you really necessitate to check is that, if you hold PAN, but do not own taxable income, do you inevitability to database a income duty return near NIL export tax liability mandatorily or it is ok if you do not report a return. If it is mandatory to wallet a return, you can do so through a professional or through IT department's helper available in a minute for nominal fees. Let us be honest citizen and follow. It is this honesty from general public contained by western world, that have brought them the nouns and comfort even. We involve to be forgiving to find this though as we own difference conditions.
Yes, you enjoy to acquire a PAN number for travelling anywhere in the world. Secondly when you want to settlement next to any soul outside Northeast India they would insist your PAN no and at matching time it help you to establish your identity iwth adjectives details. Having a Pan no is other advantageous rathen then adage I dont require. regard. Sriram.
Sorry. You are not exempted from Income rates because you are from North east.