Home Loan: Increase the Home Loan Eligibility Criteria

<div dir="ltr" style="text-align: left;" trbidi="on"> <br /> <h3 style="text-align: center;"> Home Loan: Increase the Home Loan Eligibility Criteria</h3> <div class="separator" style="clear: both; text-align: center;"> <img border="0" height="170" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEg7iJfrNffWYFb0MFs9e-Nv70gPEpBtgKDrbFCC7rnQp7hPJKBea5BM2UaVQfr0a6meh0SEPhVC-9nHhj1KaVurhhUldpJpEpXa4x-5tdql5Isp3CPFaWUbplwGSyUEniRv6NvYOPzTiV39/s1600/Screenshot_10.jpg" width="320" /></div> <br /> <div class="MsoNormal" style="text-align: justify;"> <span lang="EN-US" style="font-family: "Calibri","sans-serif"; font-size: 11.0pt; mso-ascii-theme-font: minor-latin; mso-hansi-theme-font: minor-latin;">Today, many banks and financial institutions provide with a bundle of facilities for providing finance to the general public as well as to corporates and others. Some of those finances that can be taken as examples are as follows:<o:p></o:p></span></div> <div class="MsoNormal" style="text-align: justify;"> <br /></div> <div class="MsoNormal" style="margin-left: 36.0pt; mso-list: l1 level1 lfo1; tab-stops: list 36.0pt; text-align: justify; text-indent: -18.0pt;"> <!--[if !supportLists]--><span lang="EN-US" style="font-family: Symbol; font-size: 11.0pt; mso-bidi-font-family: Symbol; mso-fareast-font-family: Symbol;">-<span style="font-family: 'Times New Roman'; font-size: 7pt;">        </span></span><!--[endif]--><span lang="EN-US" style="font-family: "Calibri","sans-serif"; font-size: 11.0pt; mso-ascii-theme-font: minor-latin; mso-hansi-theme-font: minor-latin;">Personal Loan<o:p></o:p></span></div> <div class="MsoNormal" style="margin-left: 36.0pt; mso-list: l1 level1 lfo1; tab-stops: list 36.0pt; text-align: justify; text-indent: -18.0pt;"> <!--[if !supportLists]--><span lang="EN-US" style="font-family: Symbol; font-size: 11.0pt; mso-bidi-font-family: Symbol; mso-fareast-font-family: Symbol;">-<span style="font-family: 'Times New Roman'; font-size: 7pt;">        </span></span><!--[endif]--><span lang="EN-US" style="font-family: "Calibri","sans-serif"; font-size: 11.0pt; mso-ascii-theme-font: minor-latin; mso-hansi-theme-font: minor-latin;">Housing Loan<o:p></o:p></span></div> <div class="MsoNormal" style="margin-left: 36.0pt; mso-list: l1 level1 lfo1; tab-stops: list 36.0pt; text-align: justify; text-indent: -18.0pt;"> <!--[if !supportLists]--><span lang="EN-US" style="font-family: Symbol; font-size: 11.0pt; mso-bidi-font-family: Symbol; mso-fareast-font-family: Symbol;">-<span style="font-family: 'Times New Roman'; font-size: 7pt;">        </span></span><!--[endif]--><span lang="EN-US" style="font-family: "Calibri","sans-serif"; font-size: 11.0pt; mso-ascii-theme-font: minor-latin; mso-hansi-theme-font: minor-latin;">Car Loan<o:p></o:p></span></div> <div class="MsoNormal" style="margin-left: 36.0pt; mso-list: l1 level1 lfo1; tab-stops: list 36.0pt; text-align: justify; text-indent: -18.0pt;"> <!--[if !supportLists]--><span lang="EN-US" style="font-family: Symbol; font-size: 11.0pt; mso-bidi-font-family: Symbol; mso-fareast-font-family: Symbol;">-<span style="font-family: 'Times New Roman'; font-size: 7pt;">        </span></span><!--[endif]--><span lang="EN-US" style="font-family: "Calibri","sans-serif"; font-size: 11.0pt; mso-ascii-theme-font: minor-latin; mso-hansi-theme-font: minor-latin;">Business Loan<o:p></o:p></span></div> <div class="MsoNormal" style="margin-left: 36.0pt; mso-list: l1 level1 lfo1; tab-stops: list 36.0pt; text-align: justify; text-indent: -18.0pt;"> <!--[if !supportLists]--><span lang="EN-US" style="font-family: Symbol; font-size: 11.0pt; mso-bidi-font-family: Symbol; mso-fareast-font-family: Symbol;">-<span style="font-family: 'Times New Roman'; font-size: 7pt;">        </span></span><!--[endif]--><span lang="EN-US" style="font-family: "Calibri","sans-serif"; font-size: 11.0pt; mso-ascii-theme-font: minor-latin; mso-hansi-theme-font: minor-latin;">Mortgage Loan and many more.<o:p></o:p></span></div> <div class="MsoNormal" style="text-align: justify;"> <br /></div> <div class="MsoNormal" style="text-align: justify;"> <span lang="EN-US" style="font-family: "Calibri","sans-serif"; font-size: 11.0pt; mso-ascii-theme-font: minor-latin; mso-hansi-theme-font: minor-latin;">The norms of providing such financial facilities differ from bank to bank and institution to institution. In this article we will consider the norms, i.e. eligibility criteria of a person, as an individual as well as a group, for availing housing loan. Housing Loans are provided for the purpose following purposes:<o:p></o:p></span></div> <div class="MsoNormal" style="margin-left: 36.0pt; mso-list: l2 level1 lfo2; tab-stops: list 36.0pt; text-align: justify; text-indent: -18.0pt;"> <!--[if !supportLists]--><span lang="EN-US" style="font-family: Symbol; font-size: 11.0pt; mso-bidi-font-family: Symbol; mso-fareast-font-family: Symbol;">-<span style="font-family: 'Times New Roman'; font-size: 7pt;">        </span></span><!--[endif]--><span lang="EN-US" style="font-family: "Calibri","sans-serif"; font-size: 11.0pt; mso-ascii-theme-font: minor-latin; mso-hansi-theme-font: minor-latin;">For purchasing plot and constructing a residential house thereon<o:p></o:p></span></div> <div class="MsoNormal" style="margin-left: 36.0pt; mso-list: l2 level1 lfo2; tab-stops: list 36.0pt; text-align: justify; text-indent: -18.0pt;"> <!--[if !supportLists]--><span lang="EN-US" style="font-family: Symbol; font-size: 11.0pt; mso-bidi-font-family: Symbol; mso-fareast-font-family: Symbol;">-<span style="font-family: 'Times New Roman'; font-size: 7pt;">        </span></span><!--[endif]--><span lang="EN-US" style="font-family: "Calibri","sans-serif"; font-size: 11.0pt; mso-ascii-theme-font: minor-latin; mso-hansi-theme-font: minor-latin;">For constructing a house on the already owned/leased land<o:p></o:p></span></div> <div class="MsoNormal" style="margin-left: 36.0pt; mso-list: l2 level1 lfo2; tab-stops: list 36.0pt; text-align: justify; text-indent: -18.0pt;"> <!--[if !supportLists]--><span lang="EN-US" style="font-family: Symbol; font-size: 11.0pt; mso-bidi-font-family: Symbol; mso-fareast-font-family: Symbol;">-<span style="font-family: 'Times New Roman'; font-size: 7pt;">        </span></span><!--[endif]--><span lang="EN-US" style="font-family: "Calibri","sans-serif"; font-size: 11.0pt; mso-ascii-theme-font: minor-latin; mso-hansi-theme-font: minor-latin;">For purchase of flat that will be constructed by the builders or others<o:p></o:p></span></div> <div class="MsoNormal" style="margin-left: 36.0pt; mso-list: l2 level1 lfo2; tab-stops: list 36.0pt; text-align: justify; text-indent: -18.0pt;"> <!--[if !supportLists]--><span lang="EN-US" style="font-family: Symbol; font-size: 11.0pt; mso-bidi-font-family: Symbol; mso-fareast-font-family: Symbol;">-<span style="font-family: 'Times New Roman'; font-size: 7pt;">        </span></span><!--[endif]--><span lang="EN-US" style="font-family: "Calibri","sans-serif"; font-size: 11.0pt; mso-ascii-theme-font: minor-latin; mso-hansi-theme-font: minor-latin;">For purchasing an already built house<o:p></o:p></span></div> <div class="MsoNormal" style="margin-left: 36.0pt; mso-list: l2 level1 lfo2; tab-stops: list 36.0pt; text-align: justify; text-indent: -18.0pt;"> <!--[if !supportLists]--><span lang="EN-US" style="font-family: Symbol; font-size: 11.0pt; mso-bidi-font-family: Symbol; mso-fareast-font-family: Symbol;">-<span style="font-family: 'Times New Roman'; font-size: 7pt;">        </span></span><!--[endif]--><span lang="EN-US" style="font-family: "Calibri","sans-serif"; font-size: 11.0pt; mso-ascii-theme-font: minor-latin; mso-hansi-theme-font: minor-latin;">For making extension or addition in the existing house<o:p></o:p></span></div> <div class="MsoNormal" style="margin-left: 36.0pt; mso-list: l2 level1 lfo2; tab-stops: list 36.0pt; text-align: justify; text-indent: -18.0pt;"> <!--[if !supportLists]--><span lang="EN-US" style="font-family: Symbol; font-size: 11.0pt; mso-bidi-font-family: Symbol; mso-fareast-font-family: Symbol;">-<span style="font-family: 'Times New Roman'; font-size: 7pt;">        </span></span><!--[endif]--><span lang="EN-US" style="font-family: "Calibri","sans-serif"; font-size: 11.0pt; mso-ascii-theme-font: minor-latin; mso-hansi-theme-font: minor-latin;">For repairs or renovation of the existing house.<o:p></o:p></span></div> <div class="MsoNormal" style="text-align: justify;"> <br /></div> <div class="MsoNormal" style="text-align: justify;"> <span lang="EN-US" style="font-family: Calibri, sans-serif;"><b><span style="font-size: large;">In general parlance, banks and other institutions go for the following eligibility criteria:</span></b><span style="font-size: 11pt;"><o:p></o:p></span></span></div> <div class="MsoNormal" style="margin-left: 36.0pt; mso-list: l3 level1 lfo3; tab-stops: list 36.0pt; text-align: justify; text-indent: -18.0pt;"> <!--[if !supportLists]--><span lang="EN-US" style="font-family: Symbol; font-size: 11.0pt; mso-bidi-font-family: Symbol; mso-fareast-font-family: Symbol;">-<span style="font-family: 'Times New Roman'; font-size: 7pt;">        </span></span><!--[endif]--><span lang="EN-US" style="font-family: "Calibri","sans-serif"; font-size: 11.0pt; mso-ascii-theme-font: minor-latin; mso-hansi-theme-font: minor-latin;">An Individual must be of an age less than 55 years. In case where relaxation is provided the maximum age may differ. In case where the age exceeds the maximum limit, a co – borrower shall join the loan.<o:p></o:p></span></div> <div class="MsoNormal" style="margin-left: 36.0pt; mso-list: l3 level1 lfo3; tab-stops: list 36.0pt; text-align: justify; text-indent: -18.0pt;"> <!--[if !supportLists]--><span lang="EN-US" style="font-family: Symbol; font-size: 11.0pt; mso-bidi-font-family: Symbol; mso-fareast-font-family: Symbol;">-<span style="font-family: 'Times New Roman'; font-size: 7pt;">        </span></span><!--[endif]--><span lang="EN-US" style="font-family: "Calibri","sans-serif"; font-size: 11.0pt; mso-ascii-theme-font: minor-latin; mso-hansi-theme-font: minor-latin;">In case of salaried person, he/she must be in confirmed service of at least 3 years.<o:p></o:p></span></div> <div class="MsoNormal" style="margin-left: 36.0pt; mso-list: l3 level1 lfo3; tab-stops: list 36.0pt; text-align: justify; text-indent: -18.0pt;"> <!--[if !supportLists]--><span lang="EN-US" style="font-family: Symbol; font-size: 11.0pt; mso-bidi-font-family: Symbol; mso-fareast-font-family: Symbol;">-<span style="font-family: 'Times New Roman'; font-size: 7pt;">        </span></span><!--[endif]--><span lang="EN-US" style="font-family: "Calibri","sans-serif"; font-size: 11.0pt; mso-ascii-theme-font: minor-latin; mso-hansi-theme-font: minor-latin;">In case of people who are near retirement age, should have minimum 5 years of service left with them.<o:p></o:p></span></div> <div class="MsoNormal" style="margin-left: 36.0pt; mso-list: l3 level1 lfo3; tab-stops: list 36.0pt; text-align: justify; text-indent: -18.0pt;"> <!--[if !supportLists]--><span lang="EN-US" style="font-family: Symbol; font-size: 11.0pt; mso-bidi-font-family: Symbol; mso-fareast-font-family: Symbol;">-<span style="font-family: 'Times New Roman'; font-size: 7pt;">        </span></span><!--[endif]--><span lang="EN-US" style="font-family: "Calibri","sans-serif"; font-size: 11.0pt; mso-ascii-theme-font: minor-latin; mso-hansi-theme-font: minor-latin;">Self Employed people also must be in employment for at least 3 years and that too in a gainful employment.<o:p></o:p></span></div> <div class="MsoNormal" style="text-align: justify;"> <br /></div> <div class="MsoNormal" style="text-align: justify;"> <span lang="EN-US" style="font-family: "Calibri","sans-serif"; font-size: 11.0pt; mso-ascii-theme-font: minor-latin; mso-hansi-theme-font: minor-latin;">This is the normal criteria adopted while lending. So in order to increase your own eligibility, you can consider the following points:<o:p></o:p></span></div> <div class="MsoNormal" style="text-align: justify;"> <br /></div> <div class="MsoNormal" style="text-align: justify;"> <b><span lang="EN-US" style="font-family: Calibri, sans-serif;"><span style="font-size: large;">The Profile of the borrower:</span></span></b><span lang="EN-US" style="font-family: "Calibri","sans-serif"; font-size: 11.0pt; mso-ascii-theme-font: minor-latin; mso-hansi-theme-font: minor-latin;"> The personal details of the borrower such as higher education, well settled profession, less dependent, higher value of assets and lower liabilities contributing to high net worth in the case of self employed person, handsome salary and long employment term with one employer, etc. may add to the positive points thereby increasing your eligibility for availing housing finance.<o:p></o:p></span></div> <div class="MsoNormal" style="text-align: justify;"> <br /></div> <div class="MsoNormal" style="text-align: justify;"> <span style="font-size: large;"><b><span lang="EN-US" style="font-family: Calibri, sans-serif;">Area of house for which loan is to be borrowed</span></b><span lang="EN-US" style="font-family: Calibri, sans-serif;">:</span></span><span lang="EN-US" style="font-family: "Calibri","sans-serif"; font-size: 11.0pt; mso-ascii-theme-font: minor-latin; mso-hansi-theme-font: minor-latin;"> It is a technical point to be kept in mind. Try to purchase or construction house property at a area which is well settled and can fetch more market value in future. This will help to increase chances of availing housing finance as the banks may consider it as a standard asset.<o:p></o:p></span></div> <div class="MsoNormal" style="text-align: justify;"> <br /></div> <div class="MsoNormal" style="text-align: justify;"> <span style="font-size: large;"><b><span lang="EN-US" style="font-family: Calibri, sans-serif;">Age of the borrower</span></b><span lang="EN-US" style="font-family: Calibri, sans-serif;">:</span></span><span lang="EN-US" style="font-family: "Calibri","sans-serif"; font-size: 11.0pt; mso-ascii-theme-font: minor-latin; mso-hansi-theme-font: minor-latin;"> Try to avail housing finance at a younger age. As the maximum age for availing housing finance is around 55 – 60 years, prefer to borrow at the age from 20 to 40 so that you can extend the term of the loan for 20 to 25 years.<o:p></o:p></span></div> <div class="MsoNormal" style="text-align: justify;"> <br /></div> <div class="MsoNormal" style="text-align: justify;"> <span style="font-size: large;"><b><span lang="EN-US" style="font-family: Calibri, sans-serif;">Creditability</span></b><span lang="EN-US" style="font-family: Calibri, sans-serif;">:</span></span><span lang="EN-US" style="font-family: "Calibri","sans-serif"; font-size: 11.0pt; mso-ascii-theme-font: minor-latin; mso-hansi-theme-font: minor-latin;"> Now a days, bank can get all your credit details from the previous financial facility, if any availed by you. They get it from Credit Information Companies (CIBIL). These companies store your details on the basis of your PAN. If you have made any default in repaying the previous financial facilities, your eligibility for availing housing or any finance come down to negative and you may have to face very high security criteria. So by repaying the financial facilities availed by you on time may add to your creditability, thereby increasing your chances of availing housing finance.<o:p></o:p></span></div> <div class="MsoNormal" style="text-align: justify;"> <br /></div> <div class="MsoNormal" style="text-align: justify;"> <span style="font-size: large;"><b><span lang="EN-US" style="font-family: Calibri, sans-serif;">Other financial Facilities enjoyed by you</span></b><span lang="EN-US" style="font-family: Calibri, sans-serif;">:</span></span><span lang="EN-US" style="font-family: "Calibri","sans-serif"; font-size: 11.0pt; mso-ascii-theme-font: minor-latin; mso-hansi-theme-font: minor-latin;"> If you are enjoying other financial facilities such as car loan, credit card, etc. you are suppose to repay such credits also. This will decrease your ability to pay the new housing loan you may be planning to avail. As per the rule, when 12 installments of a credit facility are outstanding, may be considered as a loan outstanding. So, if you have enough liquidity, you can repay such outstanding loan in full or in part, which may help to reduce the number of installments payable by you. Thus, try to repay your outstanding debt so that the capability of repaying new finance increases, thereby increasing your eligibility criteria for availing a housing loan.<o:p></o:p></span></div> <div class="MsoNormal" style="text-align: justify;"> <br /></div> <div class="MsoNormal" style="text-align: justify;"> <span style="font-size: large;"><b><span lang="EN-US" style="font-family: Calibri, sans-serif;">Increase in income</span></b><span lang="EN-US" style="font-family: Calibri, sans-serif;">:</span></span><span lang="EN-US" style="font-family: "Calibri","sans-serif"; font-size: 11.0pt; mso-ascii-theme-font: minor-latin; mso-hansi-theme-font: minor-latin;"> Finance is granted based on your income. The Higher your income, the higher the amount of loan you can avail. So is you are a salaried person, try to increase your take home pay, that will result in an increase in your repayment capacity. Banks calculate the loan amount on the basis of that the amount of loan that may be sanctioned is less than or equal to 48 times of your take home salary. And if you are having any other debt and have to repay the same, the same is also deducted from your repayment capacity.<o:p></o:p></span></div> <div class="MsoNormal" style="text-align: justify;"> <br /></div> <div class="MsoNormal" style="text-align: justify;"> <span style="font-size: large;"><b><span lang="EN-US" style="font-family: Calibri, sans-serif;">Repayment Capacity</span></b><span lang="EN-US" style="font-family: Calibri, sans-serif;">:</span></span><span lang="EN-US" style="font-family: "Calibri","sans-serif"; font-size: 11.0pt; mso-ascii-theme-font: minor-latin; mso-hansi-theme-font: minor-latin;"> You must try to increase your repayment capacity, which will increase your eligibility for availing housing loan. Your repayment capacity is calculated on the basis that, your monthly installment can never be more than half of your take home pay. And it may even be reduced when you are already repaying the existing loans, if any. So you must concentrate on your repayment capacity for increasing your eligibility for availing the housing finance.<o:p></o:p></span></div> <div class="MsoNormal" style="text-align: justify;"> <br /></div> <div class="MsoNormal" style="text-align: justify;"> <span style="font-size: large;"><b><span lang="EN-US" style="font-family: Calibri, sans-serif;">Co-Borrowers</span></b><span lang="EN-US" style="font-family: Calibri, sans-serif;">:</span></span><span lang="EN-US" style="font-family: "Calibri","sans-serif"; font-size: 11.0pt; mso-ascii-theme-font: minor-latin; mso-hansi-theme-font: minor-latin;"> If the repayment capacity of an individual does not meet the repayment capacity, he can opt for joining a co-borrower to apply for the housing finance. Generally co- borrowers are close relatives. In case when you are of very old age in such cases also you can opt for a Co borrower.<o:p></o:p></span></div> <div class="MsoNormal" style="text-align: justify;"> <br /></div> <div class="MsoNormal" style="text-align: justify;"> <span style="font-size: large;"><b><span lang="EN-US" style="font-family: Calibri, sans-serif;">Lower EMI during initial term</span></b><span lang="EN-US" style="font-family: Calibri, sans-serif;">:</span></span><span lang="EN-US" style="font-family: "Calibri","sans-serif"; font-size: 11.0pt; mso-ascii-theme-font: minor-latin; mso-hansi-theme-font: minor-latin;"> Opt for paying Lower Installments in the initial period of the loan. This will increase your repayment capacity. It is the most common way to increase your eligibility for availing housing loan. Such loan is given on the basis that the income of an individual increases as the time passes. This king of adjustment is known as Step – Up loan in official language.<o:p></o:p></span></div> <div class="MsoNormal" style="text-align: justify;"> <br /></div> <div class="MsoNormal" style="text-align: justify;"> <span style="font-size: large;"><b><span lang="EN-US" style="font-family: Calibri, sans-serif;">Tenure of Loan</span></b><span lang="EN-US" style="font-family: Calibri, sans-serif;">:</span></span><span lang="EN-US" style="font-family: "Calibri","sans-serif"; font-size: 11.0pt; mso-ascii-theme-font: minor-latin; mso-hansi-theme-font: minor-latin;"> This is the most suggested tip for increasing the eligibility for availing housing finance. The logic behind the tip is very simple that, if the tenure of the loan is more, then there will be more number of installments payable by you and the amount will be much lower in every installment. This will meet your repayment capacity if you have lower income generated as per records. For example, if your repayment capacity is to be considered on the basis of half of your salary and it amounts to Rs. 10000, if you take a housing loan of Rs.10,00,000 @ 9.5% interest rate for 10 years than your monthly installment may come to Rs. 12940, which is higher than your repayment capacity. But if you increase the tenure of the loan to 18 years, your monthly installment will be Rs.9680. This will meet your repayment capacity and will make you eligible for availing the housing finance.<o:p></o:p></span></div> <div class="MsoNormal" style="text-align: justify;"> <br /></div> <div class="MsoNormal" style="text-align: justify;"> <span lang="EN-US" style="font-family: Calibri, sans-serif;"><b><span style="font-size: large;">Other ways to increase your eligibility for availing housing loan can be:</span></b><span style="font-size: 11pt;"><o:p></o:p></span></span></div> <ul style="margin-top: 0cm;" type="disc"> <li class="MsoNormal" style="mso-list: l0 level1 lfo4; text-align: justify;"><span lang="EN-US" style="font-family: "Calibri","sans-serif"; font-size: 11.0pt; mso-ascii-theme-font: minor-latin; mso-hansi-theme-font: minor-latin;">You can club income of your spouse or children that will increase your repayment capacity.<o:p></o:p></span></li> <li class="MsoNormal" style="mso-list: l0 level1 lfo4; text-align: justify;"><span lang="EN-US" style="font-family: "Calibri","sans-serif"; font-size: 11.0pt; mso-ascii-theme-font: minor-latin; mso-hansi-theme-font: minor-latin;">Salaried employees have an option of adding up your performance – linked pay and increase your eligibility for availing housing loan.<o:p></o:p></span></li> </ul> <div class="MsoNormal" style="margin-left: 18.0pt; text-align: justify;"> <span style="font-family: Calibri, sans-serif; font-size: 11pt;">The above adjustments should be made if and only if they suit your profile otherwise it may sometimes create liquidity and other crisis.</span></div> </div>

Home Loan: Increase the Home Loan Eligibility Criteria

Home Loan: Increase the Home Loan Eligibility Criteria Today, many banks and financial institutions provide with a bundle of facilit...

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Insurance Policy: Invest for Long-Term Care with proper Planning

<div dir="ltr" style="text-align: left;" trbidi="on"> <h3 style="text-align: center;"> <br />Insurance Policy: Invest for Long-Term Care with proper Planning</h3> <div class="separator" style="clear: both; text-align: center;"> <img border="0" height="168" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgNhoUr_nX8ug-iHtYWpL0APcEIlREVea_sGgMPKSE750kSDpwSxT9c0LEwimJqYgG931s1K-kXDV1YLcL7hiY8Azh-HuPud1YgwKSWnsH6-tyHElDxDTB5Iwk4wsM-mIVl_LLbE6ywz8F-/s1600/Screenshot_9.jpg" width="320" /></div> <br /> <div class="MsoNormal" style="text-align: justify;"> <span lang="EN-US">Once we become old, we need to care so much for ourselves as our body becomes weak day by day. We cannot carry out our all the day to day work. We need gentle support. We have to meet so many expenses related to health and other special care which we require. Thus insurance policies of long term care are very useful in meeting such expenses. <o:p></o:p></span></div> <div class="MsoNormal" style="text-align: justify;"> <br /></div> <div class="MsoNormal" style="text-align: justify;"> <span lang="EN-US">We have to pay premium when we are young and are able to earn enough, So that that can be used at the old age. In modern concepts insurance companies are providing us with services also. They are in the form of medical care as well as custodial care. It will help in carrying out the following tasks:<o:p></o:p></span></div> <div class="MsoNormal" style="text-align: justify;"> <br /></div> <div class="MsoListParagraphCxSpFirst" style="mso-list: l1 level1 lfo1; text-align: justify; text-indent: -18.0pt;"> <!--[if !supportLists]--><span lang="EN-US" style="font-family: "Times New Roman","serif"; mso-fareast-font-family: "Times New Roman";"><span style="font-family: 'Times New Roman', serif;">     </span>-<span style="font-family: 'Times New Roman'; font-size: 7pt;">          </span></span><!--[endif]--><span lang="EN-US">Health Care<o:p></o:p></span></div> <div class="MsoListParagraphCxSpMiddle" style="mso-list: l1 level1 lfo1; text-align: justify; text-indent: -18.0pt;"> <!--[if !supportLists]--><span lang="EN-US" style="font-family: "Times New Roman","serif"; mso-fareast-font-family: "Times New Roman";"><span style="font-family: 'Times New Roman', serif;">     </span>-<span style="font-family: 'Times New Roman'; font-size: 7pt;">          </span></span><!--[endif]--><span lang="EN-US">House Keeping<o:p></o:p></span></div> <div class="MsoListParagraphCxSpMiddle" style="mso-list: l1 level1 lfo1; text-align: justify; text-indent: -18.0pt;"> <!--[if !supportLists]--><span lang="EN-US" style="font-family: "Times New Roman","serif"; mso-fareast-font-family: "Times New Roman";"><span style="font-family: 'Times New Roman', serif;">     </span>-<span style="font-family: 'Times New Roman'; font-size: 7pt;">          </span></span><!--[endif]--><span lang="EN-US">Preparing food, etc.<o:p></o:p></span></div> <div class="MsoListParagraphCxSpLast" style="text-align: justify;"> <br /></div> <div class="MsoNormal" style="text-align: justify;"> <span lang="EN-US">Such Insurance Policy for the long term should be chosen after considering the following factors:<o:p></o:p></span></div> <div class="MsoNormal" style="text-align: justify;"> <br /></div> <div class="MsoListParagraphCxSpFirst" style="mso-list: l0 level1 lfo2; text-align: justify; text-indent: -18.0pt;"> <!--[if !supportLists]--><span lang="EN-US" style="font-family: "Times New Roman","serif"; mso-fareast-font-family: "Times New Roman";"><span style="font-family: 'Times New Roman', serif;">     </span>-<span style="font-family: 'Times New Roman'; font-size: 7pt;">          </span></span><!--[endif]--><b><span lang="EN-US">Age:</span></b><span lang="EN-US"> You must start investing in long –term care from a young age. This will give you the following benefits:<b><o:p></o:p></b></span></div> <div class="MsoListParagraphCxSpMiddle" style="margin-left: 72.0pt; mso-add-space: auto; mso-list: l0 level2 lfo2; text-align: justify; text-indent: -18.0pt;"> <!--[if !supportLists]--><span lang="EN-US" style="font-family: "Courier New"; mso-fareast-font-family: "Courier New";">o<span style="font-family: 'Times New Roman'; font-size: 7pt;">   </span></span><!--[endif]--><span lang="EN-US">You have to pay less amount of premium as your age is lower and your health is good.<o:p></o:p></span></div> <div class="MsoListParagraphCxSpMiddle" style="margin-left: 72.0pt; mso-add-space: auto; mso-list: l0 level2 lfo2; text-align: justify; text-indent: -18.0pt;"> <!--[if !supportLists]--><span lang="EN-US" style="font-family: "Courier New"; mso-fareast-font-family: "Courier New";">o<span style="font-family: 'Times New Roman'; font-size: 7pt;">   </span></span><!--[endif]--><span lang="EN-US">At a young age, you can earn enough to collect for old age.<o:p></o:p></span></div> <div class="MsoListParagraphCxSpMiddle" style="margin-left: 72.0pt; mso-add-space: auto; text-align: justify;"> <br /></div> <div class="MsoListParagraphCxSpMiddle" style="mso-list: l0 level1 lfo2; text-align: justify; text-indent: -18.0pt;"> <!--[if !supportLists]--><span lang="EN-US" style="font-family: "Times New Roman","serif"; mso-fareast-font-family: "Times New Roman";"><span style="font-family: 'Times New Roman', serif;">     </span>-<span style="font-family: 'Times New Roman'; font-size: 7pt;">          </span></span><!--[endif]--><b><span lang="EN-US">Income</span></b><span lang="EN-US">: You should keep in mind the income earned by you. Is it sufficient to meet the daily expenses or it will be increased in future? If so, then make future plans for investing in Long – Term care.<o:p></o:p></span></div> <div class="MsoListParagraphCxSpMiddle" style="text-align: justify;"> <br /></div> <div class="MsoListParagraphCxSpMiddle" style="mso-list: l0 level1 lfo2; text-align: justify; text-indent: -18.0pt;"> <!--[if !supportLists]--><span lang="EN-US" style="font-family: "Times New Roman","serif"; mso-fareast-font-family: "Times New Roman";"><span style="font-family: 'Times New Roman', serif;">     </span>-<span style="font-family: 'Times New Roman'; font-size: 7pt;">          </span></span><!--[endif]--><b><span lang="EN-US">Recent and hereditary Health Conditions</span></b><span lang="EN-US">: You should keep in mind about the diseases that you may suffer and also the chances of hereditary diseases. So that you can choose your Long – Term care on the basis of your health care requirements.<o:p></o:p></span></div> <div class="MsoListParagraphCxSpMiddle" style="text-align: justify;"> <br /></div> <div class="MsoListParagraphCxSpMiddle" style="mso-list: l0 level1 lfo2; text-align: justify; text-indent: -18.0pt;"> <!--[if !supportLists]--><span lang="EN-US" style="font-family: "Times New Roman","serif"; mso-fareast-font-family: "Times New Roman";"><span style="font-family: 'Times New Roman', serif;">     </span>-<span style="font-family: 'Times New Roman'; font-size: 7pt;">          </span></span><!--[endif]--><b><span lang="EN-US">Costs</span></b><span lang="EN-US">: There are lots of companies providing Long –Term Care Insurance. You must scan the market and compare the prices and choose the best one. Because sometimes it may happen that the same care be at a cheaper rate in either company.<o:p></o:p></span></div> <div class="MsoListParagraphCxSpMiddle" style="text-align: justify;"> <br /></div> <div class="MsoListParagraphCxSpMiddle" style="mso-list: l0 level1 lfo2; text-align: justify; text-indent: -18.0pt;"> <!--[if !supportLists]--><span lang="EN-US" style="font-family: "Times New Roman","serif"; mso-fareast-font-family: "Times New Roman";"><span style="font-family: 'Times New Roman', serif;">     </span>-<span style="font-family: 'Times New Roman'; font-size: 7pt;">          </span></span><!--[endif]--><b><span lang="EN-US">Choosing Long – Term Care Company</span></b><span lang="EN-US">: While choosing long term care company you must keep the following things in mind:<o:p></o:p></span></div> <div class="MsoListParagraphCxSpMiddle" style="margin-left: 72.0pt; mso-add-space: auto; mso-list: l0 level2 lfo2; text-align: justify; text-indent: -18.0pt;"> <!--[if !supportLists]--><span lang="EN-US" style="font-family: "Courier New"; mso-fareast-font-family: "Courier New";">o<span style="font-family: 'Times New Roman'; font-size: 7pt;">   </span></span><!--[endif]--><span lang="EN-US">The Company is reliable<o:p></o:p></span></div> <div class="MsoListParagraphCxSpMiddle" style="margin-left: 72.0pt; mso-add-space: auto; mso-list: l0 level2 lfo2; text-align: justify; text-indent: -18.0pt;"> <!--[if !supportLists]--><span lang="EN-US" style="font-family: "Courier New"; mso-fareast-font-family: "Courier New";">o<span style="font-family: 'Times New Roman'; font-size: 7pt;">   </span></span><!--[endif]--><span lang="EN-US">The company is long lasting<o:p></o:p></span></div> <div class="MsoListParagraphCxSpMiddle" style="margin-left: 72.0pt; mso-add-space: auto; mso-list: l0 level2 lfo2; text-align: justify; text-indent: -18.0pt;"> <!--[if !supportLists]--><span lang="EN-US" style="font-family: "Courier New"; mso-fareast-font-family: "Courier New";">o<span style="font-family: 'Times New Roman'; font-size: 7pt;">   </span></span><!--[endif]--><span lang="EN-US">The company is financially sound<o:p></o:p></span></div> <div class="MsoListParagraphCxSpMiddle" style="margin-left: 72.0pt; mso-add-space: auto; mso-list: l0 level2 lfo2; text-align: justify; text-indent: -18.0pt;"> <!--[if !supportLists]--><span lang="EN-US" style="font-family: "Courier New"; mso-fareast-font-family: "Courier New";">o<span style="font-family: 'Times New Roman'; font-size: 7pt;">   </span></span><!--[endif]--><span lang="EN-US">It has long term perspectives, etc.<o:p></o:p></span></div> <div class="MsoListParagraphCxSpMiddle" style="text-align: justify;"> <br /></div> <div class="MsoListParagraphCxSpMiddle" style="mso-list: l0 level1 lfo2; text-align: justify; text-indent: -18.0pt;"> <!--[if !supportLists]--><span lang="EN-US" style="font-family: "Times New Roman","serif"; mso-fareast-font-family: "Times New Roman";"><span style="font-family: 'Times New Roman', serif;">     </span>-<span style="font-family: 'Times New Roman'; font-size: 7pt;">          </span></span><!--[endif]--><b><span lang="EN-US">Buying from an agent</span></b><span lang="EN-US">: You must prefer to buy long term care insurance from an agent. The trustworthy agent should be chosen so that he can suggest us the care as per our requirement.<o:p></o:p></span></div> <div class="MsoListParagraphCxSpMiddle" style="text-align: justify;"> <br /></div> <div class="MsoListParagraphCxSpMiddle" style="mso-list: l0 level1 lfo2; text-align: justify; text-indent: -18.0pt;"> <!--[if !supportLists]--><span lang="EN-US" style="font-family: "Times New Roman","serif"; mso-fareast-font-family: "Times New Roman";"><span style="font-family: 'Times New Roman', serif;">     </span>-<span style="font-family: 'Times New Roman'; font-size: 7pt;">          </span></span><!--[endif]--><b><span lang="EN-US">Keep in mind the other pillars in your life from whom you are going to be benefited in your old age</span></b><span lang="EN-US">. They are, for example family, friends and other well-wishers. So simply don’t waste your money in paying premiums to the insurance companies. <o:p></o:p></span></div> <div class="MsoListParagraphCxSpMiddle" style="mso-list: l0 level1 lfo2; text-align: justify; text-indent: -18.0pt;"> <span lang="EN-US"><br /></span></div> <div class="MsoListParagraphCxSpMiddle" style="mso-list: l0 level1 lfo2; text-align: justify; text-indent: -18.0pt;"> <!--[if !supportLists]--><span lang="EN-US" style="font-family: "Times New Roman","serif"; mso-fareast-font-family: "Times New Roman";"><span style="font-family: 'Times New Roman', serif;">     </span>-<span style="font-family: 'Times New Roman'; font-size: 7pt;">          </span></span><!--[endif]--><b><span lang="EN-US">Always give priorities to your current liquidity position</span></b><span lang="EN-US">. Don’t pay so much of premium to secure your long term care, that you cannot enjoy your presence.<o:p></o:p></span></div> <div class="MsoListParagraphCxSpMiddle" style="text-align: justify;"> <br /></div> <br /> <div class="MsoListParagraphCxSpLast" style="mso-list: l0 level1 lfo2; text-align: justify; text-indent: -18.0pt;"> <!--[if !supportLists]--><span lang="EN-US" style="font-family: "Times New Roman","serif"; mso-fareast-font-family: "Times New Roman";">     -<span style="font-family: 'Times New Roman'; font-size: 7pt;">          </span></span><!--[endif]--><span lang="EN-US">You must also consider the tax exemptions allowable to you on long term care investments. Thus the investment policy must be so chosen that you can invest your current income and make it tax free and receive the same tax free as long term care.</span></div> </div>

Insurance Policy: Invest for Long-Term Care with proper Planning

Insurance Policy: Invest for Long-Term Care with proper Planning Once we become old, we need to care so much for ourselves as our bod...

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PAN Card New Proof, New Form and Amendments in Procedure - tin.nsdl.com

<div dir="ltr" style="text-align: left;" trbidi="on"> <h3 style="text-align: center;"> PAN Card New Proof, New Form and Amendments in Procedure</h3> <div class="separator" style="clear: both; text-align: center;"> <img border="0" height="175" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjQrchAi_yV7BAk6JaYDBu0Z8j_2dA260jFjd9Be_9od5pWC5s2FQReSFhv70gIUci8ktKpRMGocoghnXNdlGyAng_HawRBK4NQVIMIcpyXG9iVF0o0LC0tf1xvlLiaXu4SNWqrTfPOizKf/s1600/Screenshot_2.jpg" width="320" /></div> <br /> <div class="MsoNormal" style="text-align: justify;"> <b><span lang="EN-US"><a href="http://www.taxfinanceinfo.com/2014/02/know-your-pan-permanent-accout-number-incometaxindiaefiling.gov.in.html"><span style="color: red;">Permanent Account Number</span></a></span></b><span lang="EN-US"> is the unique number allotted to an individual, firm, company or any entity identified as a person as per <b>section 2 (31).</b> <b><a href="http://www.taxfinanceinfo.com/2014/02/know-your-pan-permanent-accout-number-incometaxindiaefiling.gov.in.html"><span style="color: red;">Permanent Account Number (PAN)</span></a></b> is used to store the details of the person for various transactions and details related to the <b>Income Tax</b>. Income tax details like returns filed, tax payable, refund outstanding etc. are stored under the PAN of a person. To avail <b>PAN</b> the person has to apply for the same to the PAN authority, i.e. <b>Central Board of Direct Tax (CBDT).</b> There is a procedure of application of PAN. Different applications are required to be made for fresh PAN, lost PAN or any changes / correction in PAN.<o:p></o:p></span></div> <div class="MsoNormal" style="text-align: justify;"> <br /></div> <div class="MsoNormal" style="text-align: justify;"> <span lang="EN-US">There are certain changes in the procedure of PAN as compared to the procedure in the past. There are changes regarding submitting of original proofs and increase in the PAN application fees. Here is the list of changes showing a comparison between the old norms for PAN allotment and the new one.<o:p></o:p></span></div> <div class="MsoNormal" style="background-color: white; background-position: initial initial; background-repeat: initial initial; text-align: justify;"> <br /></div> <div class="MsoNormal" style="background-color: white; background-position: initial initial; background-repeat: initial initial; text-align: justify;"> <b><span lang="EN-US" style="font-size: 16.0pt; mso-bidi-font-size: 11.0pt;">List of changes in PAN allotment norms:<o:p></o:p></span></b></div> <div class="MsoNormal" style="background-color: white; background-position: initial initial; background-repeat: initial initial; text-align: justify;"> <br /></div> <ul style="margin-top: 0cm;" type="disc"> <li class="MsoNormal" style="text-align: justify;"><span lang="EN-US">There is a change in the amount of PAN application fees. It was Rs. 96 in the past and now it is increased as follows:<o:p></o:p></span></li> <ul style="margin-top: 0cm;" type="circle"> <li class="MsoNormal" style="text-align: justify;"><span lang="EN-US">For Communication address <b>within India</b> -  Rs. 105 which consists of Rs. 93 for application fees and Rs. 9 of Service Tax @ 12.36%.<o:p></o:p></span></li> <li class="MsoNormal" style="text-align: justify;"><span lang="EN-US">For Communication address <b>outside India</b> - Rs. 971 which consists of Rs. 93 for application fees, Rs. 771 for Dispatch related charges and Rs. 107 of Service Tax @ 12.36%. <o:p></o:p></span></li> </ul> </ul> <div class="MsoNormal" style="margin-left: 36pt; text-align: justify;"> <span lang="EN-US">Increased application fees are payable from 16^th January, 2014.<o:p></o:p></span></div> <div class="MsoNormal" style="margin-left: 36pt; text-align: justify;"> <br /></div> <ul style="margin-top: 0cm;" type="disc"> <li class="MsoNormal" style="text-align: justify;"><span lang="EN-US">The other change in norms is regarding presenting the documents in support of the personal details. As per the old norms, the applicant was supposed to submit the copies of documents like identity proof and address proof. But the CBDT has announced, in a recent statement that:<o:p></o:p></span></li> </ul> <div class="MsoNormal" style="margin-left: 36pt; text-align: justify; text-indent: 2.25pt;"> <br /></div> <div class="MsoNormal" style="margin-left: 36pt; text-align: justify; text-indent: 2.25pt;"> <span lang="EN-US">“Every PAN applicant has to <u>submit self-attested copies of</u> <b><a href="http://www.taxfinanceinfo.com/2014/02/know-your-pan-permanent-accout-number-incometaxindiaefiling.gov.in.html">Proof of Identity(POI)</a></b>, <b>Proof of Address (POA)</b> and <b>Date of Birth (DOB)</b> documents <b><span style="color: red;">and</span></b> also <u>produce “<b>Original Documents</b>” of such <a href="http://www.taxfinanceinfo.com/2014/02/know-your-pan-permanent-accout-number-incometaxindiaefiling.gov.in.html"><span style="color: red;">POI/POA/DOB</span></a> documents</u>, for <b><u>verification at the center of PAN facilitation centers</u></b>”. It was also added that “the copies of identity proof, address proof and date of birth have to be attached with PAN application form”<o:p></o:p></span></div> <div class="MsoNormal" style="margin-left: 36pt; text-align: justify; text-indent: 2.25pt;"> <br /></div> <div class="MsoNormal" style="margin-left: 36pt; text-align: justify; text-indent: 2.25pt;"> <span lang="EN-US">So as per the statement the applicants are required to carry with them the self attested copies of the above documents along with the originals of the same. The Copies will be verified by the TIN Facilitation centers to check if there is any variation in the copies as compared to that of the original. <u>The original documents will be given back on the spot soon after the same are verified.</u> This rule is applicable from 3^rd February, 2014.<o:p></o:p></span></div> <div class="MsoNormal" style="text-align: justify;"> <br /></div> <div class="MsoNormal" style="text-align: justify;"> <b><span lang="EN-US" style="font-size: 16.0pt; mso-bidi-font-size: 11.0pt;">Advantages and Disadvantages of the Changes in PAN allotment Norms:<o:p></o:p></span></b></div> <div class="MsoNormal" style="text-align: justify;"> <br /></div> <ul style="margin-top: 0cm;" type="disc"> <li class="MsoNormal" style="text-align: justify;"><span lang="EN-US">According to the oppositions, the requirement of the original proofs for proof of identity, proof of address and date of birth for application of <a href="http://www.taxfinanceinfo.com/2014/02/know-your-pan-permanent-accout-number-incometaxindiaefiling.gov.in.html"><span style="color: red;">PAN</span></a> will create many problems. All the applicants will not be comfortable for providing the original proofs to the consultants so, they will not be able to provide customer satisfaction.<o:p></o:p></span></li> <li class="MsoNormal" style="text-align: justify;"><span lang="EN-US">Such submission of original proofs will also create problems for foreign applicants as they will not be able to visit the country at the time of applying for the PAN and can not trust consultants and handover their original proofs to them.<o:p></o:p></span></li> <li class="MsoNormal" style="text-align: justify;"><span lang="EN-US">Along with the above limitations, it will prove advantageous for the Income Tax authorities that accurate and realistic database can be maintained as compared to fake and unrealistic data obtained sometimes from the fraudulent applications.<o:p></o:p></span></li> <li class="MsoNormal" style="text-align: justify;"><span lang="EN-US">The new norms will make in line all the documents of the people and the identity of all the person will be clear and without any fraud.<o:p></o:p></span></li> </ul> <div class="MsoNormal" style="text-align: justify;"> <br /></div> <div class="MsoNormal" style="text-align: justify;"> <b><span lang="EN-US" style="font-size: 16.0pt; mso-bidi-font-size: 11.0pt;">Need for updating the address:<o:p></o:p></span></b></div> <div class="MsoNormal" style="text-align: justify;"> <br /></div> <div class="MsoNormal" style="text-align: justify;"> <span lang="EN-US">Your PAN Database such as your name, date of birth, contact address, etc. are used for communication with you for the matters related to income tax. Details like your income tax intimation, refund order, etc. is sent to the address given by you while applying for the PAN and the same exists in your PAN database.<o:p></o:p></span></div> <div class="MsoNormal" style="text-align: justify;"> <br /></div> <div class="MsoNormal" style="text-align: justify;"> <span lang="EN-US">So it is recommended that whenever your residential or communication changes or you shift from one place to another, you must amend your PAN database by making application through the form for 'Request For <a href="http://www.taxfinanceinfo.com/2014/02/know-your-pan-permanent-accout-number-incometaxindiaefiling.gov.in.html"><span style="color: red;">New PAN Card</span></a> or/ And Changes In PAN Data'. As it will help you in keeping your database updated with the income tax authority and so you will receive your all important communications related to income tax at your doorstep without any delay.<o:p></o:p></span></div> <div class="MsoNormal" style="text-align: justify;"> <br /></div> <div class="MsoNormal" style="text-align: justify;"> <b><span lang="EN-US" style="font-size: 16.0pt; mso-bidi-font-size: 11.0pt;">Let us have a look at the amended procedure of the PAN application:<o:p></o:p></span></b></div> <div class="MsoNormal" style="text-align: justify;"> <br /></div> <div class="MsoNormal" style="margin-left: 18pt; text-align: justify;"> <u><span lang="EN-US">For Online Application<o:p></o:p></span></u></div> <ul style="margin-top: 0cm;" type="disc"> <li class="MsoNormal" style="text-align: justify;"><span lang="EN-US">Visit the Site <a href="http://www.tin.nsdl.com/">www.tin.nsdl.com</a> <o:p></o:p></span></li> <li class="MsoNormal" style="text-align: justify;"><span lang="EN-US">Go to the PAN application department and download the PAN application form 49A for new PAN<o:p></o:p></span></li> <li class="MsoNormal" style="text-align: justify;"><span lang="EN-US">Take a printout of the application form and fill the required details as applicable for the respective type of person<o:p></o:p></span></li> <li class="MsoNormal" style="text-align: justify;"><span lang="EN-US">Affix the photo on proper place and sign the form duly<o:p></o:p></span></li> <li class="MsoNormal" style="text-align: justify;"><span lang="EN-US">Attach self – attested photocopies of the proof of identity, proof of address and date of birth<o:p></o:p></span></li> <li class="MsoNormal" style="text-align: justify;"><span lang="EN-US">Visit the nearest TIN Facilitation center along with the application form, attached documents and the originals of the attached proofs<o:p></o:p></span></li> <li class="MsoNormal" style="text-align: justify;"><span lang="EN-US">Provide the same to the application receiving authority at the counter<o:p></o:p></span></li> <li class="MsoNormal" style="text-align: justify;"><span lang="EN-US">He / She will verify the self – attested copies of the proofs with that of the originals<o:p></o:p></span></li> <li class="MsoNormal" style="text-align: justify;"><span lang="EN-US">Once verified, you will have to pay application fees of Rs. 105 (amended) if the communication address is within <st1:country-region w:st="on">India</st1:country-region> and Rs. 971 if the communication address is outside <st1:place w:st="on"><st1:country-region w:st="on">India</st1:country-region></st1:place><o:p></o:p></span></li> <li class="MsoNormal" style="text-align: justify;"><span lang="EN-US">If the self – attested copies of proofs are not in line with that of the originals, then you will have to provide the rectified copies<o:p></o:p></span></li> <li class="MsoNormal" style="text-align: justify;"><span lang="EN-US">You will receive an acknowledgement number<o:p></o:p></span></li> <li class="MsoNormal" style="text-align: justify;"><span lang="EN-US">Use the same to check the status of your PAN and you will be allotted PAN within 30 days from the date of application.<o:p></o:p></span></li> </ul> <div class="MsoNormal" style="text-align: justify;"> <b><span lang="EN-US" style="font-size: 16.0pt; mso-bidi-font-size: 11.0pt;">Point to Notice:</span></b></div> <div class="MsoNormal" style="text-align: justify;"> <br /></div> <div class="MsoNormal" style="text-align: justify;"> <span lang="EN-US">As per the latest news the above norms are put on hold by the Central Board of Direct Taxes. The news of putting on hold, such norms are given by the Ministry by providing the statement given below:<o:p></o:p></span></div> <div class="MsoNormal" style="text-align: justify;"> <br /></div> <div class="MsoNormal" style="text-align: justify;"> <span lang="EN-US">"The Central Board of Direct Taxes (CBDT) has decided to keep in abeyance the decision to change the procedure for<a href="http://www.taxfinanceinfo.com/2014/02/know-your-pan-permanent-accout-number-incometaxindiaefiling.gov.in.html"> <span style="color: red;">PAN</span></a> allotment till further orders. " <o:p></o:p></span></div> <div class="MsoNormal" style="text-align: justify;"> <br /></div> <div class="MsoNormal" style="text-align: justify;"> <span lang="EN-US">In the other statement, it was also stated that the old procedure of PAN application and allotment "shall continue". It can be clearly seen that the new norms are literally criticized and so due to such pressure from the assesses the CBDT has to put a hold on changing the norms for PAN card application. But it can be said that the new norms will be in practice in short duration. <o:p></o:p></span></div> <div class="MsoNormal" style="text-align: justify;"> <br /></div> </div>

PAN Card New Proof, New Form and Amendments in Procedure - tin.nsdl.com

PAN Card New Proof, New Form and Amendments in Procedure Permanent Account Number is the unique number allotted to an individual, fi...

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Income Tax: Tax Benefits of Housing Loan in India

<div dir="ltr" style="text-align: left;" trbidi="on"> <h3 style="text-align: center;"> <br />Income Tax: Tax Benefits of Housing Loan in India</h3> <div class="separator" style="clear: both; text-align: center;"> <img border="0" height="170" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEh82xkI794K6WZHKaf6Ks8iq3mLH64m6DqxzfHtYAMdnPRdHgCBFVxkMhSxagufztbgAPuD4PQTDPup964F0L3P47l17ic0FNHfcbCWgdbpmPtYGhwV0aznZs2Lb4QgKHExrAtHWHsmRBmD/s1600/Screenshot_9.jpg" width="320" /></div> <br /> <div class="MsoNormal" style="text-align: justify; text-indent: 36.0pt;"> <span lang="EN-US" style="font-size: 12.0pt; line-height: 115%;">Any tax benefit on housing loan is covered under section 24, 80C and 80EE of the income tax act, 1961.<o:p></o:p></span></div> <div class="MsoNormal" style="text-align: justify; text-indent: 36.0pt;"> <span lang="EN-US" style="font-size: 12.0pt; line-height: 115%;"><br /></span></div> <div class="MsoNormal" style="text-align: justify;"> <span lang="EN-US" style="font-size: 12.0pt; line-height: 115%;">            The important matter to be kept in mind is the tax benefit of housing loan when a person takes a housing loan. Thus, there are different sections available for taking tax benefit on housing loan and this benefit are claimed as a tax deduction at the time of filing of the income tax return. The repayment of the amount of housing loan is to be divided into 2 components:<o:p></o:p></span></div> <div class="MsoNormal" style="text-align: justify;"> <span lang="EN-US" style="font-size: 12.0pt; line-height: 115%;"><br /></span></div> <div class="MsoListParagraphCxSpFirst" style="mso-list: l2 level1 lfo1; text-align: justify; text-indent: -18.0pt;"> <!--[if !supportLists]--><span lang="EN-US" style="font-size: 12.0pt; line-height: 115%; mso-ascii-font-family: Calibri; mso-bidi-font-family: Calibri; mso-fareast-font-family: Calibri; mso-hansi-font-family: Calibri;">      -<span style="font-size: 7pt; line-height: normal;">          </span></span><!--[endif]--><span lang="EN-US" style="font-size: 12.0pt; line-height: 115%;">Repayment of principal amount<o:p></o:p></span></div> <div class="MsoListParagraphCxSpLast" style="mso-list: l2 level1 lfo1; text-align: justify; text-indent: -18.0pt;"> <!--[if !supportLists]--><span lang="EN-US" style="font-size: 12.0pt; line-height: 115%; mso-ascii-font-family: Calibri; mso-bidi-font-family: Calibri; mso-fareast-font-family: Calibri; mso-hansi-font-family: Calibri;">      -<span style="font-size: 7pt; line-height: normal;">          </span></span><!--[endif]--><span lang="EN-US" style="font-size: 12.0pt; line-height: 115%;">Repayment of the interest on home loan<o:p></o:p></span></div> <div class="MsoNormal" style="text-align: justify;"> <br /></div> <div class="MsoListParagraph" style="mso-list: l5 level1 lfo2; text-align: justify; text-indent: -18.0pt;"> <!--[if !supportLists]--><b><span style="font-size: large;"><span lang="EN-US" style="font-family: Wingdings; line-height: 115%;">  Ø<span style="font-family: 'Times New Roman'; line-height: normal;">  </span></span><!--[endif]--></span></b><i><u><span lang="EN-US" style="line-height: 115%;"><b><span style="font-size: large;">Section - 80C :- income tax benefit on home loan (principal amount)</span></b><span style="font-size: small;"><o:p></o:p></span></span></u></i></div> <div class="MsoNormal" style="text-align: justify;"> <span lang="EN-US" style="font-size: 12.0pt; line-height: 115%;"><br /></span></div> <div class="MsoNormal" style="text-align: justify;"> <span lang="EN-US" style="font-size: 12.0pt; line-height: 115%;">            When an INDIVIDUAL or HUF made the repayment of the principal amount of home loan, the deduction is allowed under section 80C up to a maximum of Rs. 100000/- only. However, the available tax benefit under this section is allowed only if the construction is complete and the completion certificate has been awarded. No deduction is allowed for repayment of the principal amount for those years in which the property is under construction.<o:p></o:p></span></div> <div class="MsoNormal" style="text-align: justify;"> <span lang="EN-US" style="font-size: 12.0pt; line-height: 115%;"><br /></span></div> <div class="MsoNormal" style="text-align: justify;"> <span lang="EN-US" style="font-size: 12.0pt; line-height: 115%;">            The deduction of Rs. 100000/- is the total deduction available under section 80C i.e., PPF account, Equity oriented MFs, Tax saving fixed deposits etc. are included for deduction under section 80C. If the assesses has not taken a loan, but paid stamp duty and registration fee then, it can be claimed as deduction under section 80C. <o:p></o:p></span><br /> <span lang="EN-US" style="font-size: 12.0pt; line-height: 115%;"><br /></span> <span lang="EN-US" style="font-size: 12.0pt; line-height: 115%;"></span><br /> <div align="center"> <table border="0" cellpadding="0" cellspacing="0" class="MsoNormalTable" style="border-collapse: collapse; margin-left: -1.15pt; mso-padding-alt: 0cm 5.4pt 0cm 5.4pt; mso-yfti-tbllook: 1184; width: 552px;"> <tbody> <tr style="height: 21.0pt; mso-yfti-firstrow: yes; mso-yfti-irow: 0;"> <td nowrap="" style="background: white; border-bottom: none; border-left: solid windowtext 1.0pt; border-right: none; border-top: solid windowtext 1.0pt; height: 21.0pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 38.0pt;" valign="bottom" width="51"> <div class="MsoNormal" style="margin-bottom: 0.0001pt;"> <br /></div> </td> <td nowrap="" style="background: white; border-bottom: none; border-left: none; border-right: solid windowtext 1.0pt; border-top: solid windowtext 1.0pt; height: 21.0pt; mso-border-right-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 376.0pt;" valign="bottom" width="501"> <div class="MsoNormal" style="margin-bottom: 0.0001pt;"> <br /></div> </td> </tr> <tr style="height: 21.0pt; mso-yfti-irow: 1;"> <td nowrap="" style="background: white; border-left: solid windowtext 1.0pt; border: none; height: 21.0pt; mso-border-left-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 38.0pt;" valign="bottom" width="51"> <div align="center" class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: center;"> <u><span style="color: red; font-size: 16.0pt; mso-ascii-font-family: Calibri; mso-bidi-font-family: "Times New Roman"; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-IN; mso-hansi-font-family: Calibri;"><a href="http://www.taxfinanceinfo.com/2013/11/income-tax-efiling-return.html"><span style="color: red;">View</span></a><o:p></o:p></span></u></div> </td> <td nowrap="" style="background: white; border-right: solid windowtext 1.0pt; border: none; height: 21.0pt; mso-border-right-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 376.0pt;" valign="bottom" width="501"> <div class="MsoNormal" style="margin-bottom: 0.0001pt;"> <span style="font-size: 16pt;">Income Tax E-filing Return<o:p></o:p></span></div> </td> </tr> <tr style="height: 21.0pt; mso-yfti-irow: 2;"> <td nowrap="" style="background: white; border-left: solid windowtext 1.0pt; border: none; height: 21.0pt; mso-border-left-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 38.0pt;" valign="bottom" width="51"> <div align="center" class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: center;"> <br /></div> </td> <td nowrap="" style="background: white; border-right: solid windowtext 1.0pt; border: none; height: 21.0pt; mso-border-right-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 376.0pt;" valign="bottom" width="501"> <div class="MsoNormal" style="margin-bottom: 0.0001pt;"> <br /></div> </td> </tr> <tr style="height: 21.0pt; mso-yfti-irow: 3;"> <td nowrap="" style="background: white; border-left: solid windowtext 1.0pt; border: none; height: 21.0pt; mso-border-left-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 38.0pt;" valign="bottom" width="51"> <div align="center" class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: center;"> <u><span style="color: red; font-size: 16.0pt; mso-ascii-font-family: Calibri; mso-bidi-font-family: "Times New Roman"; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-IN; mso-hansi-font-family: Calibri;"><a href="http://www.taxfinanceinfo.com/2013/11/process-of-filing-rectification-return.html"><span style="color: red;">View</span></a><o:p></o:p></span></u></div> </td> <td nowrap="" style="background: white; border-right: solid windowtext 1.0pt; border: none; height: 21.0pt; mso-border-right-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 376.0pt;" valign="bottom" width="501"> <div class="MsoNormal" style="margin-bottom: 0.0001pt;"> <span style="font-size: 16pt;">Process of Filing Rectification Return<o:p></o:p></span></div> </td> </tr> <tr style="height: 21.0pt; mso-yfti-irow: 4;"> <td nowrap="" style="background: white; border-left: solid windowtext 1.0pt; border: none; height: 21.0pt; mso-border-left-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 38.0pt;" valign="bottom" width="51"> <div align="center" class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: center;"> <br /></div> </td> <td nowrap="" style="background: white; border-right: solid windowtext 1.0pt; border: none; height: 21.0pt; mso-border-right-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 376.0pt;" valign="bottom" width="501"> <div class="MsoNormal" style="margin-bottom: 0.0001pt;"> <br /></div> </td> </tr> <tr style="height: 21.0pt; mso-yfti-irow: 5;"> <td nowrap="" style="background: white; border-left: solid windowtext 1.0pt; border: none; height: 21.0pt; mso-border-left-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 38.0pt;" valign="bottom" width="51"> <div align="center" class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: center;"> <u><span style="color: red; font-size: 16.0pt; mso-ascii-font-family: Calibri; mso-bidi-font-family: "Times New Roman"; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-IN; mso-hansi-font-family: Calibri;"><a href="http://www.taxfinanceinfo.com/2013/11/common-errors-in-filing-rectification.html"><span style="color: red;">View</span></a><o:p></o:p></span></u></div> </td> <td nowrap="" style="background: white; border-right: solid windowtext 1.0pt; border: none; height: 21.0pt; mso-border-right-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 376.0pt;" valign="bottom" width="501"> <div class="MsoNormal" style="margin-bottom: 0.0001pt;"> <span style="font-size: 16pt;">Common Errors in Filing Rectification Return<o:p></o:p></span></div> </td> </tr> <tr style="height: 21.0pt; mso-yfti-irow: 6;"> <td nowrap="" style="background: white; border-left: solid windowtext 1.0pt; border: none; height: 21.0pt; mso-border-left-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 38.0pt;" valign="bottom" width="51"> <div align="center" class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: center;"> <br /></div> </td> <td nowrap="" style="background: white; border-right: solid windowtext 1.0pt; border: none; height: 21.0pt; mso-border-right-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 376.0pt;" valign="bottom" width="501"> <div class="MsoNormal" style="margin-bottom: 0.0001pt;"> <br /></div> </td> </tr> <tr style="height: 21.0pt; mso-yfti-irow: 7;"> <td nowrap="" style="background: white; border-left: solid windowtext 1.0pt; border: none; height: 21.0pt; mso-border-left-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 38.0pt;" valign="bottom" width="51"> <div align="center" class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: center;"> <u><span style="color: red; font-size: 16.0pt; mso-ascii-font-family: Calibri; mso-bidi-font-family: "Times New Roman"; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-IN; mso-hansi-font-family: Calibri;"><a href="http://www.taxfinanceinfo.com/2013/11/common-mistakes-in-e-filling-of-income.html"><span style="color: red;">View</span></a><o:p></o:p></span></u></div> </td> <td nowrap="" style="background: white; border-right: solid windowtext 1.0pt; border: none; height: 21.0pt; mso-border-right-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 376.0pt;" valign="bottom" width="501"> <div class="MsoNormal" style="margin-bottom: 0.0001pt;"> <span style="font-size: 16pt;">Common Mistakes in E-filling of Income Tax Return (ITR)<o:p></o:p></span></div> </td> </tr> <tr style="height: 21.0pt; mso-yfti-irow: 8; mso-yfti-lastrow: yes;"> <td nowrap="" style="background: white; border-bottom: solid windowtext 1.0pt; border-left: solid windowtext 1.0pt; border-right: none; border-top: none; height: 21.0pt; mso-border-bottom-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 38.0pt;" valign="bottom" width="51"> <div class="MsoNormal" style="margin-bottom: 0.0001pt;"> <br /></div> </td> <td nowrap="" style="background: white; border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; height: 21.0pt; mso-border-bottom-alt: solid windowtext .5pt; mso-border-right-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 376.0pt;" valign="bottom" width="501"> <div class="MsoNormal" style="margin-bottom: 0.0001pt;"> <br /></div> </td> </tr> </tbody></table> </div> </div> <div class="MsoNormal" style="text-align: justify;"> <span lang="EN-US" style="font-size: 12.0pt; line-height: 115%;"> </span><span style="font-size: 12pt; line-height: 115%;"> </span></div> <div class="MsoListParagraph" style="mso-list: l4 level1 lfo3; text-align: justify; text-indent: -18.0pt;"> <!--[if !supportLists]--><span style="font-size: large;"><span lang="EN-US" style="font-family: Wingdings; line-height: 115%;"> <b> Ø<span style="font-family: 'Times New Roman'; line-height: normal;">  </span></b></span><!--[endif]--></span><i><u><span lang="EN-US" style="line-height: 115%;"><span style="font-size: large;"><b>Section - 24 :- income tax benefit of interest on home loan</b></span><span style="font-size: small;"><o:p></o:p></span></span></u></i></div> <div class="MsoNormal" style="text-align: justify;"> <span lang="EN-US" style="font-size: 12.0pt; line-height: 115%;"><br /></span></div> <div class="MsoNormal" style="text-align: justify;"> <span lang="EN-US" style="font-size: 12.0pt; line-height: 115%;">            Under section 24, the interest paid on housing loan is to be reduced from the income from house property when the loan has been taken for the purpose of purchase or construction or repair of the housing property.<o:p></o:p></span></div> <div class="MsoNormal" style="text-align: justify;"> <span lang="EN-US" style="font-size: 12.0pt; line-height: 115%;"><br /></span></div> <div class="MsoNormal" style="text-align: justify;"> <span lang="EN-US" style="font-size: 12.0pt; line-height: 115%;">            The maximum deduction limit of Rs. 150000/- is available for a self-occupied property under this section. However, the property for which the loan has been taken is not the self occupied property of the assesses then there is no maximum limit is applied and he/she can claim the deduction for the whole amount. The benefit of deduction of interest on housing loan of Rs. 100000/- is to be reduced to Rs. 30000/- only if the construction of such property is not completed within 3 years from the end of the financial year in which the loan was taken.<o:p></o:p></span></div> <div class="MsoNormal" style="text-align: justify;"> <span lang="EN-US" style="font-size: 12.0pt; line-height: 115%;"><br /></span></div> <div class="MsoNormal" style="text-align: justify;"> <span lang="EN-US" style="font-size: 12.0pt; line-height: 115%;">            While taking the benefit of deduction under section 24, the following important points must be taken into consideration:<o:p></o:p></span></div> <div class="MsoNormal" style="text-align: justify;"> <span lang="EN-US" style="font-size: 12.0pt; line-height: 115%;"><br /></span></div> <div class="MsoListParagraphCxSpFirst" style="mso-list: l0 level1 lfo5; mso-text-indent-alt: -18.0pt; text-align: justify; text-indent: -36.0pt;"> <!--[if !supportLists]--><span lang="EN-US" style="font-size: 12.0pt; line-height: 115%; mso-bidi-font-family: Calibri; mso-bidi-theme-font: minor-latin;"><span style="font-size: 7pt; line-height: normal;">                        </span>I.<span style="font-size: 7pt; line-height: normal;">            </span></span><!--[endif]--><span lang="EN-US" style="font-size: 12.0pt; line-height: 115%;">Interest paid on outstanding amount is not allowed as a tax deduction.<o:p></o:p></span></div> <div class="MsoListParagraphCxSpMiddle" style="mso-list: l0 level1 lfo5; mso-text-indent-alt: -18.0pt; text-align: justify; text-indent: -36.0pt;"> <!--[if !supportLists]--><span lang="EN-US" style="font-size: 12.0pt; line-height: 115%; mso-bidi-font-family: Calibri; mso-bidi-theme-font: minor-latin;"><span style="font-size: 9px;">                        </span>II.<span style="font-size: 7pt; line-height: normal;">            </span></span><!--[endif]--><span lang="EN-US" style="font-size: 12.0pt; line-height: 115%;">Any deduction cannot be claimed for a commission paid for arranging the loan.<o:p></o:p></span></div> <div class="MsoListParagraphCxSpMiddle" style="mso-list: l0 level1 lfo5; mso-text-indent-alt: -18.0pt; text-align: justify; text-indent: -36.0pt;"> <!--[if !supportLists]--><span lang="EN-US" style="font-size: 12.0pt; line-height: 115%; mso-bidi-font-family: Calibri; mso-bidi-theme-font: minor-latin;"><span style="font-size: 9px;">                 </span>III.<span style="font-size: 7pt; line-height: normal;">            </span></span><!--[endif]--><span lang="EN-US" style="font-size: 12.0pt; line-height: 115%;">If the person acquired or constructed the property with borrowed funds, then he/she can claim the deduction of interest on a home loan.<o:p></o:p></span></div> <div class="MsoListParagraphCxSpLast" style="mso-list: l0 level1 lfo5; mso-text-indent-alt: -18.0pt; text-align: justify; text-indent: -36.0pt;"> <!--[if !supportLists]--><span lang="EN-US" style="font-size: 12.0pt; line-height: 115%; mso-bidi-font-family: Calibri; mso-bidi-theme-font: minor-latin;"><span style="font-size: 9px;">                     </span><span style="font-size: 7pt; line-height: normal;"> </span>IV.<span style="font-size: 7pt; line-height: normal;">            </span></span><!--[endif]--><span lang="EN-US" style="font-size: 12.0pt; line-height: 115%;">This tax deduction is to be available to the assesses only if the construction is completed within 3 years from the end of the financial year in which the capital is borrowed.<o:p></o:p></span></div> <div class="MsoNormal" style="text-align: justify;"> <span lang="EN-US" style="font-size: 12.0pt; line-height: 115%;"> </span><span style="font-size: 12pt; line-height: 115%;"> </span></div> <div class="MsoListParagraph" style="mso-list: l4 level1 lfo3; text-align: justify; text-indent: -18.0pt;"> <!--[if !supportLists]--><span lang="EN-US" style="font-family: Wingdings; font-size: 12.0pt; line-height: 115%; mso-bidi-font-family: Wingdings; mso-fareast-font-family: Wingdings;"> <b> </b></span><b><span style="font-size: large;"><span lang="EN-US" style="font-family: Wingdings; line-height: 115%;">Ø<span style="font-family: 'Times New Roman'; line-height: normal;">  </span></span><!--[endif]--></span><i><u><span lang="EN-US" style="line-height: 115%;"><span style="font-size: large;">Section - 80EE :- income tax benefit of interest on home loan (first time buyer)</span><span style="font-size: small;"><o:p></o:p></span></span></u></i></b></div> <div class="MsoNormal" style="text-align: justify;"> <span lang="EN-US" style="font-size: 12.0pt; line-height: 115%;"><br /></span></div> <div class="MsoNormal" style="text-align: justify;"> <span lang="EN-US" style="font-size: 12.0pt; line-height: 115%;">            While the budget 2013 has been announced by P. Chidambaram, a new section in the income tax act is included known as section 80EE. This section provides additional tax deduction of Rs. 100000/- to the first time home buyers with the following conditions:<o:p></o:p></span></div> <div class="MsoNormal" style="text-align: justify;"> <br /></div> <div class="MsoListParagraphCxSpFirst" style="mso-list: l1 level1 lfo6; mso-text-indent-alt: -18.0pt; text-align: justify; text-indent: -36.0pt;"> <!--[if !supportLists]--><span lang="EN-US" style="font-size: 12.0pt; line-height: 115%; mso-bidi-font-family: Calibri; mso-bidi-theme-font: minor-latin;"><span style="font-size: 7pt; line-height: normal;">                        </span>I.<span style="font-size: 7pt; line-height: normal;">            </span></span><!--[endif]--><span lang="EN-US" style="font-size: 12.0pt; line-height: 115%;">The loan is to be sanctioned between 1^st April, 2013 and 31^st March, 2013.<o:p></o:p></span></div> <div class="MsoListParagraphCxSpMiddle" style="mso-list: l1 level1 lfo6; mso-text-indent-alt: -18.0pt; text-align: justify; text-indent: -36.0pt;"> <!--[if !supportLists]--><span lang="EN-US" style="font-size: 12.0pt; line-height: 115%; mso-bidi-font-family: Calibri; mso-bidi-theme-font: minor-latin;"><span style="font-size: 9px;">               </span><span style="font-size: 9px;"> </span><span style="font-size: 7pt; line-height: normal;">      </span>II.<span style="font-size: 7pt; line-height: normal;">            </span></span><!--[endif]--><span lang="EN-US" style="font-size: 12.0pt; line-height: 115%;">The amount of the loan does not exceed Rs. 2500000/-.<o:p></o:p></span></div> <div class="MsoListParagraphCxSpLast" style="mso-list: l1 level1 lfo6; mso-text-indent-alt: -18.0pt; text-align: justify; text-indent: -36.0pt;"> <!--[if !supportLists]--><span lang="EN-US" style="font-size: 12.0pt; line-height: 115%; mso-bidi-font-family: Calibri; mso-bidi-theme-font: minor-latin;"><span style="font-size: 9px;">               </span><span style="font-size: 9px;"> </span><span style="font-size: 7pt; line-height: normal;">    </span>III.<span style="font-size: 7pt; line-height: normal;">            </span></span><!--[endif]--><span lang="EN-US" style="font-size: 12.0pt; line-height: 115%;">On the date of sanction of loan, the assesses does not own any house property.<o:p></o:p></span></div> <div class="MsoNormal" style="text-align: justify;"> <br /></div> <div class="MsoListParagraph" style="mso-list: l3 level1 lfo4; text-align: justify; text-indent: -18.0pt;"> <!--[if !supportLists]--><span lang="EN-US" style="font-family: Symbol; font-size: 12.0pt; line-height: 115%; mso-bidi-font-family: Symbol; mso-fareast-font-family: Symbol;">·<span style="font-family: 'Times New Roman'; font-size: 7pt; line-height: normal;">         </span></span><!--[endif]--><b><span lang="EN-US" style="font-size: 12.0pt; line-height: 115%;">Available deductions in all of the 3 sections –<o:p></o:p></span></b></div> <div class="MsoListParagraph" style="mso-list: l3 level1 lfo4; text-align: justify; text-indent: -18.0pt;"> <b><span lang="EN-US" style="font-size: 12.0pt; line-height: 115%;"><br /></span></b></div> <table border="1" cellpadding="0" cellspacing="0" class="MsoTableGrid" style="border-collapse: collapse; border: none; mso-border-alt: solid black .5pt; mso-border-themecolor: text1; mso-padding-alt: 0cm 5.4pt 0cm 5.4pt; mso-yfti-tbllook: 1184;"> <tbody> <tr> <td rowspan="2" style="border: solid black 1.0pt; mso-border-alt: solid black .5pt; mso-border-themecolor: text1; mso-border-themecolor: text1; padding: 0cm 5.4pt 0cm 5.4pt; width: 159.6pt;" valign="top" width="213"><div align="center" class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: center;"> <span lang="EN-US" style="font-size: 12.0pt;">Particulars<o:p></o:p></span></div> </td> <td colspan="2" style="border-left: none; border: solid black 1.0pt; mso-border-alt: solid black .5pt; mso-border-left-alt: solid black .5pt; mso-border-left-themecolor: text1; mso-border-themecolor: text1; mso-border-themecolor: text1; padding: 0cm 5.4pt 0cm 5.4pt; width: 319.2pt;" valign="top" width="426"><div align="center" class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: center;"> <span lang="EN-US" style="font-size: 12.0pt;">Quantum of deduction<o:p></o:p></span></div> </td> </tr> <tr> <td style="border-bottom: solid black 1.0pt; border-left: none; border-right: solid black 1.0pt; border-top: none; mso-border-alt: solid black .5pt; mso-border-bottom-themecolor: text1; mso-border-left-alt: solid black .5pt; mso-border-left-themecolor: text1; mso-border-right-themecolor: text1; mso-border-themecolor: text1; mso-border-top-alt: solid black .5pt; mso-border-top-themecolor: text1; padding: 0cm 5.4pt 0cm 5.4pt; width: 159.6pt;" valign="top" width="213"><div align="center" class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: center;"> <span lang="EN-US" style="font-size: 12.0pt;">Self-Occupied property<o:p></o:p></span></div> </td> <td style="border-bottom: solid black 1.0pt; border-left: none; border-right: solid black 1.0pt; border-top: none; mso-border-alt: solid black .5pt; mso-border-bottom-themecolor: text1; mso-border-left-alt: solid black .5pt; mso-border-left-themecolor: text1; mso-border-right-themecolor: text1; mso-border-themecolor: text1; mso-border-top-alt: solid black .5pt; mso-border-top-themecolor: text1; padding: 0cm 5.4pt 0cm 5.4pt; width: 159.6pt;" valign="top" width="213"><div align="center" class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: center;"> <span lang="EN-US" style="font-size: 12.0pt;">None Self-occupied property<o:p></o:p></span></div> </td> </tr> <tr> <td style="border-top: none; border: solid black 1.0pt; mso-border-alt: solid black .5pt; mso-border-themecolor: text1; mso-border-themecolor: text1; mso-border-top-alt: solid black .5pt; mso-border-top-themecolor: text1; padding: 0cm 5.4pt 0cm 5.4pt; width: 159.6pt;" valign="top" width="213"><div align="center" class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: center;"> <span lang="EN-US" style="font-size: 12.0pt;">Section 24<o:p></o:p></span></div> </td> <td style="border-bottom: solid black 1.0pt; border-left: none; border-right: solid black 1.0pt; border-top: none; mso-border-alt: solid black .5pt; mso-border-bottom-themecolor: text1; mso-border-left-alt: solid black .5pt; mso-border-left-themecolor: text1; mso-border-right-themecolor: text1; mso-border-themecolor: text1; mso-border-top-alt: solid black .5pt; mso-border-top-themecolor: text1; padding: 0cm 5.4pt 0cm 5.4pt; width: 159.6pt;" valign="top" width="213"><div align="center" class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: center;"> <span lang="EN-US" style="font-size: 12.0pt;">150000<o:p></o:p></span></div> </td> <td style="border-bottom: solid black 1.0pt; border-left: none; border-right: solid black 1.0pt; border-top: none; mso-border-alt: solid black .5pt; mso-border-bottom-themecolor: text1; mso-border-left-alt: solid black .5pt; mso-border-left-themecolor: text1; mso-border-right-themecolor: text1; mso-border-themecolor: text1; mso-border-top-alt: solid black .5pt; mso-border-top-themecolor: text1; padding: 0cm 5.4pt 0cm 5.4pt; width: 159.6pt;" valign="top" width="213"><div align="center" class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: center;"> <span lang="EN-US" style="font-size: 12.0pt;">No limit<o:p></o:p></span></div> </td> </tr> <tr> <td style="border-top: none; border: solid black 1.0pt; mso-border-alt: solid black .5pt; mso-border-themecolor: text1; mso-border-themecolor: text1; mso-border-top-alt: solid black .5pt; mso-border-top-themecolor: text1; padding: 0cm 5.4pt 0cm 5.4pt; width: 159.6pt;" valign="top" width="213"><div align="center" class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: center;"> <span lang="EN-US" style="font-size: 12.0pt;">Section 80C<o:p></o:p></span></div> </td> <td style="border-bottom: solid black 1.0pt; border-left: none; border-right: solid black 1.0pt; border-top: none; mso-border-alt: solid black .5pt; mso-border-bottom-themecolor: text1; mso-border-left-alt: solid black .5pt; mso-border-left-themecolor: text1; mso-border-right-themecolor: text1; mso-border-themecolor: text1; mso-border-top-alt: solid black .5pt; mso-border-top-themecolor: text1; padding: 0cm 5.4pt 0cm 5.4pt; width: 159.6pt;" valign="top" width="213"><div align="center" class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: center;"> <span lang="EN-US" style="font-size: 12.0pt;">100000<o:p></o:p></span></div> </td> <td style="border-bottom: solid black 1.0pt; border-left: none; border-right: solid black 1.0pt; border-top: none; mso-border-alt: solid black .5pt; mso-border-bottom-themecolor: text1; mso-border-left-alt: solid black .5pt; mso-border-left-themecolor: text1; mso-border-right-themecolor: text1; mso-border-themecolor: text1; mso-border-top-alt: solid black .5pt; mso-border-top-themecolor: text1; padding: 0cm 5.4pt 0cm 5.4pt; width: 159.6pt;" valign="top" width="213"><div align="center" class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: center;"> <span lang="EN-US" style="font-size: 12.0pt;">100000<o:p></o:p></span></div> </td> </tr> <tr> <td style="border-top: none; border: solid black 1.0pt; mso-border-alt: solid black .5pt; mso-border-themecolor: text1; mso-border-themecolor: text1; mso-border-top-alt: solid black .5pt; mso-border-top-themecolor: text1; padding: 0cm 5.4pt 0cm 5.4pt; width: 159.6pt;" valign="top" width="213"><div align="center" class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: center;"> <span lang="EN-US" style="font-size: 12.0pt;">Section 80EE<o:p></o:p></span></div> </td> <td style="border-bottom: solid black 1.0pt; border-left: none; border-right: solid black 1.0pt; border-top: none; mso-border-alt: solid black .5pt; mso-border-bottom-themecolor: text1; mso-border-left-alt: solid black .5pt; mso-border-left-themecolor: text1; mso-border-right-themecolor: text1; mso-border-themecolor: text1; mso-border-top-alt: solid black .5pt; mso-border-top-themecolor: text1; padding: 0cm 5.4pt 0cm 5.4pt; width: 159.6pt;" valign="top" width="213"><div align="center" class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: center;"> <span lang="EN-US" style="font-size: 12.0pt;">100000<o:p></o:p></span></div> </td> <td style="border-bottom: solid black 1.0pt; border-left: none; border-right: solid black 1.0pt; border-top: none; mso-border-alt: solid black .5pt; mso-border-bottom-themecolor: text1; mso-border-left-alt: solid black .5pt; mso-border-left-themecolor: text1; mso-border-right-themecolor: text1; mso-border-themecolor: text1; mso-border-top-alt: solid black .5pt; mso-border-top-themecolor: text1; padding: 0cm 5.4pt 0cm 5.4pt; width: 159.6pt;" valign="top" width="213"><div align="center" class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: center;"> <span lang="EN-US" style="font-size: 12.0pt;">100000<o:p></o:p></span></div> </td> </tr> </tbody></table> <br /> <div class="MsoNormal"> <br /></div> </div>

Income Tax: Tax Benefits of Housing Loan in India

Income Tax: Tax Benefits of Housing Loan in India Any tax benefit on housing loan is covered under section 24, 80C and 80EE of the in...

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Know Your PAN - Permanent Account Number - incometaxindiaefiling.gov.in

<div dir="ltr" style="text-align: left;" trbidi="on"> <h3 style="text-align: center;"> Know Your PAN - Permanent Account Number - incometaxindiaefiling.gov.in</h3> <div style="text-align: justify;"> This article is all about to Know Your PAN i.e. Permanent Account Number. Starting from the what is PAN, how it is important document for income tax purpose etc... To file Income Tax Return on incometaxindiaefiling.gov.in you should obtain the PAN. You may find all the necessary details given below. </div> <br /> <div class="separator" style="clear: both; text-align: center;"> <img border="0" height="175" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEg14SwG1XtkLDn-6UKSynYoTD4oFXIOliQi3aGgnvIzYvZrBU4FTUWct5E6NJWJ9LA5bdxf1T8UG0s6WTtZHx_HBgILxo2gbyftrIMc1-e_ZofvJA_o_w6GSlRyZ-tVdrPRQZEF2Mv1Vc1b/s1600/Screenshot_3.jpg" width="320" /></div> <br /> <div style="text-align: center;"> <span style="font-size: x-large;"><b><u>Know Your PAN</u></b></span></div> <br /> <div class="MsoNormal" style="text-align: justify;"> <span lang="EN-US"><span style="font-size: 12px; line-height: 13.800000190734863px;">                  </span><b style="line-height: 115%;"><a href="http://www.taxfinanceinfo.com/2013/11/know-your-pan-pan-card-status-pan-card.html"><span style="color: red;">PAN</span></a></b><span style="line-height: 115%;"> is known as </span><b style="line-height: 115%;"><a href="http://www.taxfinanceinfo.com/2013/11/know-your-pan-pan-card-status-pan-card.html" target=""><span style="color: red;">Permanent Account Number</span></a></b><span style="line-height: 115%;">, which is the identity proof of the “Person” with the tax department in tax related matters. </span><b style="line-height: 115%;">PAN</b><span style="line-height: 115%;"> is a ten – digit number (including alphabetic & numeric both) issued by the income tax department under the supervision of the </span><b style="line-height: 115%;">CBDT (Central Board for Direct Tax)</b><span style="line-height: 115%;"> to the person who applies for </span><b style="line-height: 115%;">PAN</b><span style="line-height: 115%;">. It is in the form of a laminated card Income tax website </span><b style="line-height: 115%;">incometaxindiaefiling.gov.in</b><span style="line-height: 115%;">. The number on the PAN card is included both alphabetic & numeric numbering which gives the complete information about the PAN card holder. For e.g., </span><b style="line-height: 115%;"><u>ARNPS8302D</u></b><span style="line-height: 115%;"> Here,<o:p></o:p></span></span></div> <div class="MsoNormal" style="text-align: justify;"> <span lang="EN-US" style="line-height: 115%; mso-bidi-font-size: 14.0pt;"><br /></span></div> <div class="MsoListParagraphCxSpFirst" style="mso-list: l1 level1 lfo2; text-align: justify; text-indent: -18.0pt;"> <!--[if !supportLists]--><span lang="EN-US" style="font-family: Wingdings; line-height: 115%; mso-bidi-font-family: Wingdings; mso-bidi-font-size: 14.0pt; mso-fareast-font-family: Wingdings;">  ü<span style="font-family: 'Times New Roman'; font-size: 7pt; line-height: normal;">  </span></span><!--[endif]--><span lang="EN-US" style="line-height: 115%; mso-bidi-font-size: 14.0pt;">The First three characters <i><u>“ARN”</u></i> are showing the alphabetic running series from AAA to ZZZ.<o:p></o:p></span></div> <div class="MsoListParagraphCxSpMiddle" style="mso-list: l1 level1 lfo2; text-align: justify; text-indent: -18.0pt;"> <!--[if !supportLists]--><span lang="EN-US" style="font-family: Wingdings; line-height: 115%; mso-bidi-font-family: Wingdings; mso-bidi-font-size: 14.0pt; mso-fareast-font-family: Wingdings;">  ü<span style="font-family: 'Times New Roman'; font-size: 7pt; line-height: normal;">  </span></span><!--[endif]--><span lang="EN-US" style="line-height: 115%; mso-bidi-font-size: 14.0pt;">The fourth character <i><u>“P”</u></i> is showing the status of the PAN holder. I.e.,<o:p></o:p></span></div> <div class="MsoListParagraphCxSpMiddle" style="mso-list: l1 level1 lfo2; text-align: justify; text-indent: -18.0pt;"> <span lang="EN-US" style="line-height: 115%; mso-bidi-font-size: 14.0pt;"><br /></span></div> <div class="MsoListParagraphCxSpMiddle" style="margin-left: 54.0pt; mso-add-space: auto; mso-list: l2 level1 lfo1; text-align: justify; text-indent: -18.0pt;"> <!--[if !supportLists]--><span lang="EN-US" style="line-height: 115%; mso-ascii-font-family: Calibri; mso-bidi-font-family: Calibri; mso-bidi-font-size: 14.0pt; mso-fareast-font-family: Calibri; mso-hansi-font-family: Calibri;">-<span style="font-size: 7pt; line-height: normal;">          </span></span><!--[endif]--><span lang="EN-US" style="line-height: 115%; mso-bidi-font-size: 14.0pt;">For the individual, the alphabetic number “P” is used.<o:p></o:p></span></div> <div class="MsoListParagraphCxSpMiddle" style="margin-left: 54.0pt; mso-add-space: auto; mso-list: l2 level1 lfo1; text-align: justify; text-indent: -18.0pt;"> <!--[if !supportLists]--><span lang="EN-US" style="line-height: 115%; mso-ascii-font-family: Calibri; mso-bidi-font-family: Calibri; mso-bidi-font-size: 14.0pt; mso-fareast-font-family: Calibri; mso-hansi-font-family: Calibri;">-<span style="font-size: 7pt; line-height: normal;">          </span></span><!--[endif]--><span lang="EN-US" style="line-height: 115%; mso-bidi-font-size: 14.0pt;">For the firm, “F” is used.<o:p></o:p></span></div> <div class="MsoListParagraphCxSpMiddle" style="margin-left: 54.0pt; mso-add-space: auto; mso-list: l2 level1 lfo1; text-align: justify; text-indent: -18.0pt;"> <!--[if !supportLists]--><span lang="EN-US" style="line-height: 115%; mso-ascii-font-family: Calibri; mso-bidi-font-family: Calibri; mso-bidi-font-size: 14.0pt; mso-fareast-font-family: Calibri; mso-hansi-font-family: Calibri;">-<span style="font-size: 7pt; line-height: normal;">          </span></span><!--[endif]--><span lang="EN-US" style="line-height: 115%; mso-bidi-font-size: 14.0pt;">For the company, “C” is used.<o:p></o:p></span></div> <div class="MsoListParagraphCxSpMiddle" style="margin-left: 54.0pt; mso-add-space: auto; mso-list: l2 level1 lfo1; text-align: justify; text-indent: -18.0pt;"> <!--[if !supportLists]--><span lang="EN-US" style="line-height: 115%; mso-ascii-font-family: Calibri; mso-bidi-font-family: Calibri; mso-bidi-font-size: 14.0pt; mso-fareast-font-family: Calibri; mso-hansi-font-family: Calibri;">-<span style="font-size: 7pt; line-height: normal;">          </span></span><!--[endif]--><span lang="EN-US" style="line-height: 115%; mso-bidi-font-size: 14.0pt;">For the HUF, “H” is used.<o:p></o:p></span></div> <div class="MsoListParagraphCxSpMiddle" style="margin-left: 54.0pt; mso-add-space: auto; mso-list: l2 level1 lfo1; text-align: justify; text-indent: -18.0pt;"> <!--[if !supportLists]--><span lang="EN-US" style="line-height: 115%; mso-ascii-font-family: Calibri; mso-bidi-font-family: Calibri; mso-bidi-font-size: 14.0pt; mso-fareast-font-family: Calibri; mso-hansi-font-family: Calibri;">-<span style="font-size: 7pt; line-height: normal;">          </span></span><!--[endif]--><span lang="EN-US" style="line-height: 115%; mso-bidi-font-size: 14.0pt;">For the AOP, “A” is used.<o:p></o:p></span></div> <div class="MsoListParagraphCxSpMiddle" style="margin-left: 54.0pt; mso-add-space: auto; mso-list: l2 level1 lfo1; text-align: justify; text-indent: -18.0pt;"> <!--[if !supportLists]--><span lang="EN-US" style="line-height: 115%; mso-ascii-font-family: Calibri; mso-bidi-font-family: Calibri; mso-bidi-font-size: 14.0pt; mso-fareast-font-family: Calibri; mso-hansi-font-family: Calibri;">-<span style="font-size: 7pt; line-height: normal;">          </span></span><!--[endif]--><span lang="EN-US" style="line-height: 115%; mso-bidi-font-size: 14.0pt;">For the trust, “T” is used.<o:p></o:p></span></div> <div class="MsoListParagraphCxSpMiddle" style="margin-left: 54.0pt; mso-add-space: auto; mso-list: l2 level1 lfo1; text-align: justify; text-indent: -18.0pt;"> <span lang="EN-US" style="line-height: 115%; mso-bidi-font-size: 14.0pt;"><br /></span></div> <div class="MsoListParagraphCxSpMiddle" style="mso-list: l3 level1 lfo3; text-align: justify; text-indent: -18.0pt;"> <!--[if !supportLists]--><span lang="EN-US" style="font-family: Wingdings; line-height: 115%; mso-bidi-font-family: Wingdings; mso-bidi-font-size: 14.0pt; mso-fareast-font-family: Wingdings;">  ü<span style="font-family: 'Times New Roman'; font-size: 7pt; line-height: normal;">  </span></span><!--[endif]--><span lang="EN-US" style="line-height: 115%; mso-bidi-font-size: 14.0pt;">The fifth character <i><u>“S”</u></i> shows the first digit of the PAN holders’ last name or surname.<o:p></o:p></span></div> <div class="MsoListParagraphCxSpMiddle" style="mso-list: l3 level1 lfo3; text-align: justify; text-indent: -18.0pt;"> <!--[if !supportLists]--><span lang="EN-US" style="font-family: Wingdings; line-height: 115%; mso-bidi-font-family: Wingdings; mso-bidi-font-size: 14.0pt; mso-fareast-font-family: Wingdings;">  ü<span style="font-family: 'Times New Roman'; font-size: 7pt; line-height: normal;">  </span></span><!--[endif]--><span lang="EN-US" style="line-height: 115%; mso-bidi-font-size: 14.0pt;">Then after the four numeric numbers <i><u>“8302”</u></i> are the sequential number running from 0001 to 9999.<o:p></o:p></span></div> <div class="MsoListParagraphCxSpLast" style="mso-list: l3 level1 lfo3; text-align: justify; text-indent: -18.0pt;"> <!--[if !supportLists]--><span lang="EN-US" style="font-family: Wingdings; line-height: 115%; mso-bidi-font-family: Wingdings; mso-bidi-font-size: 14.0pt; mso-fareast-font-family: Wingdings;">  ü<span style="font-family: 'Times New Roman'; font-size: 7pt; line-height: normal;">  </span></span><!--[endif]--><span lang="EN-US" style="line-height: 115%; mso-bidi-font-size: 14.0pt;">The last character <i><u>“D”</u></i> is a check digit number of the PAN holder about his\her tax transactions.<o:p></o:p></span></div> <div class="MsoNormal" style="text-align: justify;"> <br /> <div align="center"> <table border="0" cellpadding="0" cellspacing="0" class="MsoNormalTable" style="border-collapse: collapse; margin-left: -1.15pt; mso-padding-alt: 0cm 5.4pt 0cm 5.4pt; mso-yfti-tbllook: 1184; width: 552px;"> <tbody> <tr style="height: 21.0pt; mso-yfti-firstrow: yes; mso-yfti-irow: 0;"> <td nowrap="" style="background: white; border-bottom: none; border-left: solid windowtext 1.0pt; border-right: none; border-top: solid windowtext 1.0pt; height: 21.0pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 38.0pt;" valign="bottom" width="51"><div class="MsoNormal" style="margin-bottom: 0.0001pt;"> <br /></div> </td> <td nowrap="" style="background: white; border-bottom: none; border-left: none; border-right: solid windowtext 1.0pt; border-top: solid windowtext 1.0pt; height: 21.0pt; mso-border-right-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 376.0pt;" valign="bottom" width="501"><div class="MsoNormal" style="margin-bottom: 0.0001pt;"> <br /></div> </td> </tr> <tr style="height: 21.0pt; mso-yfti-irow: 1;"> <td nowrap="" style="background: white; border-left: solid windowtext 1.0pt; border: none; height: 21.0pt; mso-border-left-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 38.0pt;" valign="bottom" width="51"><div align="center" class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: center;"> <u><span style="color: red; font-size: 16.0pt; mso-ascii-font-family: Calibri; mso-bidi-font-family: "Times New Roman"; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-IN; mso-hansi-font-family: Calibri;"><a href="http://www.taxfinanceinfo.com/2013/11/income-tax-efiling-return.html"><span style="color: red;">View</span></a><o:p></o:p></span></u></div> </td> <td nowrap="" style="background: white; border-right: solid windowtext 1.0pt; border: none; height: 21.0pt; mso-border-right-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 376.0pt;" valign="bottom" width="501"><div class="MsoNormal" style="margin-bottom: 0.0001pt;"> <span style="font-size: 16pt;">Income Tax E-filing Return<o:p></o:p></span></div> </td> </tr> <tr style="height: 21.0pt; mso-yfti-irow: 2;"> <td nowrap="" style="background: white; border-left: solid windowtext 1.0pt; border: none; height: 21.0pt; mso-border-left-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 38.0pt;" valign="bottom" width="51"><div align="center" class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: center;"> <br /></div> </td> <td nowrap="" style="background: white; border-right: solid windowtext 1.0pt; border: none; height: 21.0pt; mso-border-right-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 376.0pt;" valign="bottom" width="501"><div class="MsoNormal" style="margin-bottom: 0.0001pt;"> <br /></div> </td> </tr> <tr style="height: 21.0pt; mso-yfti-irow: 3;"> <td nowrap="" style="background: white; border-left: solid windowtext 1.0pt; border: none; height: 21.0pt; mso-border-left-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 38.0pt;" valign="bottom" width="51"><div align="center" class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: center;"> <u><span style="color: red; font-size: 16.0pt; mso-ascii-font-family: Calibri; mso-bidi-font-family: "Times New Roman"; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-IN; mso-hansi-font-family: Calibri;"><a href="http://www.taxfinanceinfo.com/2013/11/process-of-filing-rectification-return.html"><span style="color: red;">View</span></a><o:p></o:p></span></u></div> </td> <td nowrap="" style="background: white; border-right: solid windowtext 1.0pt; border: none; height: 21.0pt; mso-border-right-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 376.0pt;" valign="bottom" width="501"><div class="MsoNormal" style="margin-bottom: 0.0001pt;"> <span style="font-size: 16pt;">Process of Filing Rectification Return<o:p></o:p></span></div> </td> </tr> <tr style="height: 21.0pt; mso-yfti-irow: 4;"> <td nowrap="" style="background: white; border-left: solid windowtext 1.0pt; border: none; height: 21.0pt; mso-border-left-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 38.0pt;" valign="bottom" width="51"><div align="center" class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: center;"> <br /></div> </td> <td nowrap="" style="background: white; border-right: solid windowtext 1.0pt; border: none; height: 21.0pt; mso-border-right-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 376.0pt;" valign="bottom" width="501"><div class="MsoNormal" style="margin-bottom: 0.0001pt;"> <br /></div> </td> </tr> <tr style="height: 21.0pt; mso-yfti-irow: 5;"> <td nowrap="" style="background: white; border-left: solid windowtext 1.0pt; border: none; height: 21.0pt; mso-border-left-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 38.0pt;" valign="bottom" width="51"><div align="center" class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: center;"> <u><span style="color: red; font-size: 16.0pt; mso-ascii-font-family: Calibri; mso-bidi-font-family: "Times New Roman"; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-IN; mso-hansi-font-family: Calibri;"><a href="http://www.taxfinanceinfo.com/2013/11/common-errors-in-filing-rectification.html"><span style="color: red;">View</span></a><o:p></o:p></span></u></div> </td> <td nowrap="" style="background: white; border-right: solid windowtext 1.0pt; border: none; height: 21.0pt; mso-border-right-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 376.0pt;" valign="bottom" width="501"><div class="MsoNormal" style="margin-bottom: 0.0001pt;"> <span style="font-size: 16pt;">Common Errors in Filing Rectification Return<o:p></o:p></span></div> </td> </tr> <tr style="height: 21.0pt; mso-yfti-irow: 6;"> <td nowrap="" style="background: white; border-left: solid windowtext 1.0pt; border: none; height: 21.0pt; mso-border-left-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 38.0pt;" valign="bottom" width="51"><div align="center" class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: center;"> <br /></div> </td> <td nowrap="" style="background: white; border-right: solid windowtext 1.0pt; border: none; height: 21.0pt; mso-border-right-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 376.0pt;" valign="bottom" width="501"><div class="MsoNormal" style="margin-bottom: 0.0001pt;"> <br /></div> </td> </tr> <tr style="height: 21.0pt; mso-yfti-irow: 7;"> <td nowrap="" style="background: white; border-left: solid windowtext 1.0pt; border: none; height: 21.0pt; mso-border-left-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 38.0pt;" valign="bottom" width="51"><div align="center" class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: center;"> <u><span style="color: red; font-size: 16.0pt; mso-ascii-font-family: Calibri; mso-bidi-font-family: "Times New Roman"; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-IN; mso-hansi-font-family: Calibri;"><a href="http://www.taxfinanceinfo.com/2013/11/common-mistakes-in-e-filling-of-income.html"><span style="color: red;">View</span></a><o:p></o:p></span></u></div> </td> <td nowrap="" style="background: white; border-right: solid windowtext 1.0pt; border: none; height: 21.0pt; mso-border-right-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 376.0pt;" valign="bottom" width="501"><div class="MsoNormal" style="margin-bottom: 0.0001pt;"> <span style="font-size: 16pt;">Common Mistakes in E-filling of Income Tax Return (ITR)<o:p></o:p></span></div> </td> </tr> <tr style="height: 21.0pt; mso-yfti-irow: 8; mso-yfti-lastrow: yes;"> <td nowrap="" style="background: white; border-bottom: solid windowtext 1.0pt; border-left: solid windowtext 1.0pt; border-right: none; border-top: none; height: 21.0pt; mso-border-bottom-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 38.0pt;" valign="bottom" width="51"><div class="MsoNormal" style="margin-bottom: 0.0001pt;"> <br /></div> </td> <td nowrap="" style="background: white; border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; height: 21.0pt; mso-border-bottom-alt: solid windowtext .5pt; mso-border-right-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 376.0pt;" valign="bottom" width="501"><div class="MsoNormal" style="margin-bottom: 0.0001pt;"> <br /></div> </td> </tr> </tbody></table> </div> <br /></div> <div class="MsoListParagraph" style="mso-list: l4 level1 lfo4; text-align: justify; text-indent: -18.0pt;"> <span lang="EN-US" style="font-family: Wingdings; line-height: 115%; mso-bidi-font-family: Wingdings; mso-bidi-font-size: 14.0pt; mso-fareast-font-family: Wingdings;">  <span style="font-size: large;"><b>Ø<span style="font-family: 'Times New Roman'; line-height: normal;">  </span></b></span></span><!--[endif]--><span lang="EN-US" style="line-height: 115%; mso-bidi-font-size: 14.0pt;"><span style="font-size: large;"><b>Legal framework of the PAN :-</b></span><o:p></o:p></span></div> <div class="MsoNormal" style="text-align: justify; text-indent: 18.0pt;"> <span lang="EN-US" style="line-height: 115%; mso-bidi-font-size: 14.0pt;"><br /></span></div> <div class="MsoNormal" style="text-align: justify; text-indent: 18.0pt;"> <span lang="EN-US" style="line-height: 115%; mso-bidi-font-size: 14.0pt;">Rule 114 of section 139A of income tax act, 1961 creates the legal framework for a person in which manner he/she can apply for PAN. If a person fails to comply the provisions of section 139A of income tax act, a penalty of Rs. 10000/- is to be paid to the assessing officer.<o:p></o:p></span></div> <div class="MsoNormal" style="text-align: justify;"> <br /></div> <div class="MsoListParagraph" style="mso-list: l4 level1 lfo4; text-align: justify; text-indent: -18.0pt;"> <!--[if !supportLists]--><span lang="EN-US" style="font-family: Wingdings; line-height: 115%; mso-bidi-font-family: Wingdings; mso-bidi-font-size: 14.0pt; mso-fareast-font-family: Wingdings;">  <span style="font-size: large;"><b>Ø<span style="font-family: 'Times New Roman'; line-height: normal;">  </span></b></span></span><!--[endif]--><span lang="EN-US" style="line-height: 115%; mso-bidi-font-size: 14.0pt;"><span style="font-size: large;"><b>Why is it necessary to have a PAN? :-</b></span><o:p></o:p></span></div> <div class="MsoNormal" style="text-align: justify; text-indent: 18.0pt;"> <span lang="EN-US" style="line-height: 115%; mso-bidi-font-size: 14.0pt;"><br /></span></div> <div class="MsoNormal" style="text-align: justify; text-indent: 18.0pt;"> <span lang="EN-US" style="line-height: 115%; mso-bidi-font-size: 14.0pt;">Income tax authorities have to make compulsory to quote PAN on the return of income in case of correspondence with the tax authority from 1^st January, 2005. It is also made compulsory by the tax authority to show the PAN in the following manner:<o:p></o:p></span></div> <div class="MsoNormal" style="text-align: justify; text-indent: 18.0pt;"> <span lang="EN-US" style="line-height: 115%; mso-bidi-font-size: 14.0pt;"><br /></span></div> <div class="MsoListParagraphCxSpFirst" style="mso-list: l0 level1 lfo5; text-align: justify; text-indent: -18.0pt;"> <!--[if !supportLists]--><span lang="EN-US" style="line-height: 115%; mso-bidi-font-family: Calibri; mso-bidi-font-size: 14.0pt; mso-bidi-theme-font: minor-latin;">      a)<span style="font-size: 7pt; line-height: normal;">      </span></span><!--[endif]--><span lang="EN-US" style="line-height: 115%; mso-bidi-font-size: 14.0pt;">A sale or purchase of any immovable property worth Rs. Five lakh or more,<o:p></o:p></span></div> <div class="MsoListParagraphCxSpMiddle" style="mso-list: l0 level1 lfo5; text-align: justify; text-indent: -18.0pt;"> <!--[if !supportLists]--><span lang="EN-US" style="line-height: 115%; mso-bidi-font-family: Calibri; mso-bidi-font-size: 14.0pt; mso-bidi-theme-font: minor-latin;">      b)<span style="font-size: 7pt; line-height: normal;">      </span></span><!--[endif]--><span lang="EN-US" style="line-height: 115%; mso-bidi-font-size: 14.0pt;">A sale or purchase of any motor vehicle, but it does not include two wheeled vehicles,<o:p></o:p></span></div> <div class="MsoListParagraphCxSpMiddle" style="mso-list: l0 level1 lfo5; text-align: justify; text-indent: -18.0pt;"> <!--[if !supportLists]--><span lang="EN-US" style="line-height: 115%; mso-bidi-font-family: Calibri; mso-bidi-font-size: 14.0pt; mso-bidi-theme-font: minor-latin;">      c)<span style="font-size: 7pt; line-height: normal;">       </span></span><!--[endif]--><span lang="EN-US" style="line-height: 115%; mso-bidi-font-size: 14.0pt;">Cash payment for the purchase of bank drafts or pay orders whose aggregate amount are more than fifty thousand rupees during any one day,<o:p></o:p></span></div> <div class="MsoListParagraphCxSpMiddle" style="mso-list: l0 level1 lfo5; text-align: justify; text-indent: -18.0pt;"> <!--[if !supportLists]--><span lang="EN-US" style="line-height: 115%; mso-bidi-font-family: Calibri; mso-bidi-font-size: 14.0pt; mso-bidi-theme-font: minor-latin;">      d)<span style="font-size: 7pt; line-height: normal;">      </span></span><!--[endif]--><span lang="EN-US" style="line-height: 115%; mso-bidi-font-size: 14.0pt;">Bills payment of hotels and restaurants for any amounts exceeding twenty five thousand at any one time,<o:p></o:p></span></div> <div class="MsoListParagraphCxSpMiddle" style="mso-list: l0 level1 lfo5; text-align: justify; text-indent: -18.0pt;"> <!--[if !supportLists]--><span lang="EN-US" style="line-height: 115%; mso-bidi-font-family: Calibri; mso-bidi-font-size: 14.0pt; mso-bidi-theme-font: minor-latin;">      e)<span style="font-size: 7pt; line-height: normal;">      </span></span><!--[endif]--><span lang="EN-US" style="line-height: 115%; mso-bidi-font-size: 14.0pt;">Open a bank account,<o:p></o:p></span></div> <div class="MsoListParagraphCxSpMiddle" style="mso-list: l0 level1 lfo5; text-align: justify; text-indent: -18.0pt;"> <!--[if !supportLists]--><span lang="EN-US" style="line-height: 115%; mso-bidi-font-family: Calibri; mso-bidi-font-size: 14.0pt; mso-bidi-theme-font: minor-latin;">      f)<span style="font-size: 7pt; line-height: normal;">       </span></span><!--[endif]--><span lang="EN-US" style="line-height: 115%; mso-bidi-font-size: 14.0pt;">For sale or purchase of securities and its value of it exceeds one lakh rupees,<o:p></o:p></span></div> <div class="MsoListParagraphCxSpLast" style="mso-list: l0 level1 lfo5; text-align: justify; text-indent: -18.0pt;"> <!--[if !supportLists]--><span lang="EN-US" style="line-height: 115%; mso-bidi-font-family: Calibri; mso-bidi-font-size: 14.0pt; mso-bidi-theme-font: minor-latin;">      g)<span style="font-size: 7pt; line-height: normal;">      </span></span><!--[endif]--><span lang="EN-US" style="line-height: 115%; mso-bidi-font-size: 14.0pt;">A deposit in any banking company or with post office, saving bank exceeding fifty thousand rupees.<o:p></o:p></span></div> <div class="MsoListParagraphCxSpLast" style="mso-list: l0 level1 lfo5; text-align: justify; text-indent: -18.0pt;"> <span lang="EN-US" style="line-height: 115%; mso-bidi-font-size: 14.0pt;"><br /></span></div> <br /> <div class="MsoNormal" style="margin-left: 18.0pt; text-align: justify; text-indent: 18.0pt;"> <span lang="EN-US" style="line-height: 115%; mso-bidi-font-size: 14.0pt;">When a taxpayer makes a payment of taxes or has monetary transaction at any place of India, a unique all India taxpayer identification number is essential for linking and processing transaction on computers and also for date matching. Therefore a new series of PAN was devised.<o:p></o:p></span></div> <br /> <br /> <div style="text-align: center;"> <span style="font-size: x-large;"><b><u>How to apply for PAN...</u></b></span></div> <br /> <div align="center" class="MsoNormal" style="text-align: center;"> <span lang="EN-US">There are two modes for applying PAN card-<o:p></o:p></span></div> <div align="center" class="MsoNormal" style="text-align: center;"> <span lang="EN-US"><br /></span></div> <div align="center" class="MsoNormal" style="text-align: center;"> <span lang="EN-US" style="font-size: large;"><b>1 - <a href="http://www.taxfinanceinfo.com/2013/11/how-to-apply-pan-application-online.html" target="_blank"><span style="color: red;">Online mode</span></a><o:p></o:p></b></span></div> <div align="center" class="MsoNormal" style="text-align: center;"> <span lang="EN-US" style="font-size: large;"><b><br /></b></span></div> <div align="center" class="MsoNormal" style="text-align: center;"> <span lang="EN-US"><span style="font-size: large;"><b>2 - Offline mode</b></span><o:p></o:p></span></div> <div align="center" class="MsoNormal" style="text-align: center;"> <span lang="EN-US"><br /></span></div> <div class="MsoNormal" style="text-align: justify; text-indent: 36.0pt;"> <span lang="EN-US">Now-a-days, it is mandatory for every individual Indian citizen to have a PAN card for making any tax related transaction. So, here a procedure is given for applying PAN card:<o:p></o:p></span></div> <div class="MsoNormal" style="text-align: justify; text-indent: 36.0pt;"> <span lang="EN-US"><br /></span></div> <div class="MsoListParagraphCxSpFirst" style="mso-list: l6 level1 lfo2; text-align: justify; text-indent: -18.0pt;"> <!--[if !supportLists]--><span lang="EN-US" style="font-family: Wingdings; mso-bidi-font-family: Wingdings; mso-fareast-font-family: Wingdings;"> v<span style="font-family: 'Times New Roman'; font-size: 7pt;">  </span></span><!--[endif]--><span lang="EN-US">For online application, the applicant has to go to the website www.incometaxindia.gov.in or www.utiisl.co.in or www.tin.nsdl.com.<o:p></o:p></span></div> <div class="MsoListParagraphCxSpFirst" style="mso-list: l6 level1 lfo2; text-align: justify; text-indent: -18.0pt;"> <span lang="EN-US"><br /></span></div> <div class="MsoListParagraphCxSpMiddle" style="mso-list: l6 level1 lfo2; text-align: justify; text-indent: -18.0pt;"> <!--[if !supportLists]--><span lang="EN-US" style="font-family: Wingdings; mso-bidi-font-family: Wingdings; mso-fareast-font-family: Wingdings;"> v<span style="font-family: 'Times New Roman'; font-size: 7pt;">  </span></span><!--[endif]--><span lang="EN-US">Then after filled the form no. 49A if the person is Indian citizen or filled the form no. 49AA if the person is from another country.<o:p></o:p></span></div> <div class="MsoListParagraphCxSpMiddle" style="mso-list: l6 level1 lfo2; text-align: justify; text-indent: -18.0pt;"> <span lang="EN-US"><br /></span></div> <div class="MsoListParagraphCxSpMiddle" style="mso-list: l6 level1 lfo2; text-align: justify; text-indent: -18.0pt;"> <!--[if !supportLists]--><span lang="EN-US" style="font-family: Wingdings; mso-bidi-font-family: Wingdings; mso-fareast-font-family: Wingdings;"> v<span style="font-family: 'Times New Roman'; font-size: 7pt;">  </span></span><!--[endif]--><span lang="EN-US">In the above two forms the applicants should have to fill the correct information about his full name, permanent address, city, category, status etc.<o:p></o:p></span></div> <div class="MsoListParagraphCxSpMiddle" style="mso-list: l6 level1 lfo2; text-align: justify; text-indent: -18.0pt;"> <span lang="EN-US"><br /></span></div> <div class="MsoListParagraphCxSpMiddle" style="mso-list: l6 level1 lfo2; text-align: justify; text-indent: -18.0pt;"> <!--[if !supportLists]--><span lang="EN-US" style="font-family: Wingdings; mso-bidi-font-family: Wingdings; mso-fareast-font-family: Wingdings;"> v<span style="font-family: 'Times New Roman'; font-size: 7pt;">  </span></span><!--[endif]--><span lang="EN-US">After filling all the correct details, the person has to pay fees of Rs. 96 by choosing any of the following mode  –<o:p></o:p></span></div> <div class="MsoListParagraphCxSpMiddle" style="margin-left: 72.0pt; mso-add-space: auto; mso-list: l5 level1 lfo3; text-align: justify; text-indent: -18.0pt;"> <!--[if !supportLists]--><span lang="EN-US">-<span style="font-size: 7pt;">          </span></span><!--[endif]--><span lang="EN-US">Demand draft<o:p></o:p></span></div> <div class="MsoListParagraphCxSpMiddle" style="margin-left: 72.0pt; mso-add-space: auto; mso-list: l5 level1 lfo3; text-align: justify; text-indent: -18.0pt;"> <!--[if !supportLists]--><span lang="EN-US">-<span style="font-size: 7pt;">          </span></span><!--[endif]--><span lang="EN-US">Cheques<o:p></o:p></span></div> <div class="MsoListParagraphCxSpMiddle" style="margin-left: 72.0pt; mso-add-space: auto; mso-list: l5 level1 lfo3; text-align: justify; text-indent: -18.0pt;"> <!--[if !supportLists]--><span lang="EN-US">-<span style="font-size: 7pt;">          </span></span><!--[endif]--><span lang="EN-US">Credit card/ debit card<o:p></o:p></span></div> <div class="MsoListParagraphCxSpMiddle" style="margin-left: 72.0pt; mso-add-space: auto; mso-list: l5 level1 lfo3; text-align: justify; text-indent: -18.0pt;"> <!--[if !supportLists]--><span lang="EN-US">-<span style="font-size: 7pt;">          </span></span><!--[endif]--><span lang="EN-US">Net banking<o:p></o:p></span></div> <div class="MsoListParagraphCxSpMiddle" style="margin-left: 72.0pt; mso-add-space: auto; mso-list: l5 level1 lfo3; text-align: justify; text-indent: -18.0pt;"> <span lang="EN-US"><br /></span></div> <div class="MsoListParagraphCxSpMiddle" style="mso-list: l6 level1 lfo2; text-align: justify; text-indent: -18.0pt;"> <!--[if !supportLists]--><span lang="EN-US" style="font-family: Wingdings; mso-bidi-font-family: Wingdings; mso-fareast-font-family: Wingdings;"> v<span style="font-family: 'Times New Roman'; font-size: 7pt;">  </span></span><!--[endif]--><span lang="EN-US">If the fees are paid by the credit card/debit card, the extra charge of rs. 5 have to pay by the person.<o:p></o:p></span></div> <div class="MsoListParagraphCxSpMiddle" style="mso-list: l6 level1 lfo2; text-align: justify; text-indent: -18.0pt;"> <span lang="EN-US"><br /></span></div> <div class="MsoListParagraphCxSpMiddle" style="mso-list: l6 level1 lfo2; text-align: justify; text-indent: -18.0pt;"> <!--[if !supportLists]--><span lang="EN-US" style="font-family: Wingdings; mso-bidi-font-family: Wingdings; mso-fareast-font-family: Wingdings;"> v<span style="font-family: 'Times New Roman'; font-size: 7pt;">  </span></span><!--[endif]--><span lang="EN-US">If the person is an individual, then before submit his application, he/she has to upload his color photograph of size 3.5 cm * 2.5 cm and upload his/her signature in the blank paper.<o:p></o:p></span></div> <div class="MsoListParagraphCxSpMiddle" style="mso-list: l6 level1 lfo2; text-align: justify; text-indent: -18.0pt;"> <span lang="EN-US"><br /></span></div> <div class="MsoListParagraphCxSpLast" style="mso-list: l6 level1 lfo2; text-align: justify; text-indent: -18.0pt;"> <!--[if !supportLists]--><span lang="EN-US" style="font-family: Wingdings; mso-bidi-font-family: Wingdings; mso-fareast-font-family: Wingdings;"> v<span style="font-family: 'Times New Roman'; font-size: 7pt;">  </span></span><!--[endif]--><span lang="EN-US">After verifying the application form, click on the submit button to submit application for PAN.<o:p></o:p></span></div> <div class="MsoNormal" style="text-align: justify;"> <br /></div> <div class="MsoListParagraphCxSpFirst" style="text-align: left; text-indent: -18pt;"> <!--[if !supportLists]--><span style="font-size: large;"><span lang="EN-US" style="font-family: Wingdings; mso-bidi-font-family: Wingdings; mso-fareast-font-family: Wingdings;"> Ø<span style="font-family: 'Times New Roman';">  </span></span><!--[endif]--></span><b><span lang="EN-US"><span style="font-size: large;">Requirement of documents to apply for PAN card with application form :- <a href="http://www.taxfinanceinfo.com/2014/02/pan-card-new-proof-new-form-and.html"><span style="color: red;">AMENDMENT IN DOCUMENTS</span></a></span><o:p></o:p></span></b></div> <div class="MsoListParagraphCxSpMiddle" style="mso-list: l8 level1 lfo1; text-align: justify; text-indent: -18.0pt;"> <span lang="EN-US"><br /></span></div> <div class="MsoListParagraphCxSpMiddle" style="mso-list: l8 level1 lfo1; text-align: justify; text-indent: -18.0pt;"> <!--[if !supportLists]--><span lang="EN-US">          -<span style="font-size: 7pt;">          </span></span><!--[endif]--><u><span lang="EN-US">Processing fees of rs. 105<o:p></o:p></span></u></div> <div class="MsoListParagraphCxSpMiddle" style="mso-list: l8 level1 lfo1; text-align: justify; text-indent: -18.0pt;"> <span lang="EN-US"><br /></span></div> <div class="MsoListParagraphCxSpMiddle" style="mso-list: l8 level1 lfo1; text-align: justify; text-indent: -18.0pt;"> <!--[if !supportLists]--><span lang="EN-US">          -<span style="font-size: 7pt;">         <a href="http://www.taxfinanceinfo.com/2014/02/pan-card-new-proof-new-form-and.html"><span style="color: red;"> </span></a></span></span><!--[endif]--><u><span lang="EN-US"><a href="http://www.taxfinanceinfo.com/2014/02/pan-card-new-proof-new-form-and.html"><span style="color: red;">Identity proof</span></a> </span></u><span lang="EN-US">: e.g.,<o:p></o:p></span></div> <div class="MsoListParagraphCxSpMiddle" style="margin-left: 72.0pt; mso-add-space: auto; mso-list: l1 level1 lfo5; text-align: justify; text-indent: -18.0pt;"> <!--[if !supportLists]--><span lang="EN-US">a)<span style="font-size: 7pt;">      </span></span><!--[endif]--><span lang="EN-US">Voters identity card<o:p></o:p></span></div> <div class="MsoListParagraphCxSpMiddle" style="margin-left: 72.0pt; mso-add-space: auto; mso-list: l1 level1 lfo5; text-align: justify; text-indent: -18.0pt;"> <!--[if !supportLists]--><span lang="EN-US">b)<span style="font-size: 7pt;">      </span></span><!--[endif]--><span lang="EN-US">Driving license<o:p></o:p></span></div> <div class="MsoListParagraphCxSpMiddle" style="margin-left: 72.0pt; mso-add-space: auto; mso-list: l1 level1 lfo5; text-align: justify; text-indent: -18.0pt;"> <!--[if !supportLists]--><span lang="EN-US">c)<span style="font-size: 7pt;">       </span></span><!--[endif]--><span lang="EN-US">Passport<o:p></o:p></span></div> <div class="MsoListParagraphCxSpMiddle" style="margin-left: 72.0pt; mso-add-space: auto; mso-list: l1 level1 lfo5; text-align: justify; text-indent: -18.0pt;"> <!--[if !supportLists]--><span lang="EN-US">d)<span style="font-size: 7pt;">      </span></span><!--[endif]--><span lang="EN-US">Matriculation certificate<o:p></o:p></span></div> <div class="MsoListParagraphCxSpMiddle" style="margin-left: 72.0pt; mso-add-space: auto; mso-list: l1 level1 lfo5; text-align: justify; text-indent: -18.0pt;"> <!--[if !supportLists]--><span lang="EN-US">e)<span style="font-size: 7pt;">      </span></span><!--[endif]--><span lang="EN-US">School leaving certificate<o:p></o:p></span></div> <div class="MsoListParagraphCxSpMiddle" style="margin-left: 72.0pt; mso-add-space: auto; mso-list: l1 level1 lfo5; text-align: justify; text-indent: -18.0pt;"> <!--[if !supportLists]--><span lang="EN-US">f)<span style="font-size: 7pt;">       </span></span><!--[endif]--><span lang="EN-US">Degree of recognized education institution<o:p></o:p></span></div> <div class="MsoListParagraphCxSpMiddle" style="margin-left: 72.0pt; mso-add-space: auto; mso-list: l1 level1 lfo5; text-align: justify; text-indent: -18.0pt;"> <!--[if !supportLists]--><span lang="EN-US">g)<span style="font-size: 7pt;">      </span></span><!--[endif]--><span lang="EN-US">Bank account statement<o:p></o:p></span></div> <div class="MsoListParagraphCxSpMiddle" style="margin-left: 72.0pt; mso-add-space: auto; mso-list: l1 level1 lfo5; text-align: justify; text-indent: -18.0pt;"> <!--[if !supportLists]--><span lang="EN-US">h)<span style="font-size: 7pt;">      </span></span><!--[endif]--><span lang="EN-US">Depository account statement<o:p></o:p></span></div> <div class="MsoListParagraphCxSpMiddle" style="margin-left: 72.0pt; mso-add-space: auto; mso-list: l1 level1 lfo5; text-align: justify; text-indent: -18.0pt;"> <!--[if !supportLists]--><span lang="EN-US">i)<span style="font-size: 7pt;">        </span></span><!--[endif]--><span lang="EN-US">Water bills<o:p></o:p></span></div> <div class="MsoListParagraphCxSpMiddle" style="margin-left: 72.0pt; mso-add-space: auto; mso-list: l1 level1 lfo5; text-align: justify; text-indent: -18.0pt;"> <!--[if !supportLists]--><span lang="EN-US">j)<span style="font-size: 7pt;">        </span></span><!--[endif]--><span lang="EN-US">Property tax assessment order, etc.<o:p></o:p></span></div> <div class="MsoListParagraphCxSpMiddle" style="margin-left: 72.0pt; mso-add-space: auto; mso-list: l1 level1 lfo5; text-align: justify; text-indent: -18.0pt;"> <span lang="EN-US"><br /></span></div> <div class="MsoListParagraphCxSpMiddle" style="mso-list: l8 level1 lfo1; text-align: justify; text-indent: -18.0pt;"> <!--[if !supportLists]--><span lang="EN-US">          -<span style="font-size: 7pt;">          </span></span><!--[endif]--><u><span lang="EN-US" style="color: red;"><a href="http://www.taxfinanceinfo.com/2014/02/pan-card-new-proof-new-form-and.html"><span style="color: red;">Address proof</span></a></span></u><span lang="EN-US"><a href="http://www.taxfinanceinfo.com/2014/02/pan-card-new-proof-new-form-and.html"><span style="color: red;"> </span></a>: e.g.,<o:p></o:p></span></div> <div class="MsoListParagraphCxSpMiddle" style="margin-left: 72.0pt; mso-add-space: auto; mso-list: l3 level1 lfo6; text-align: justify; text-indent: -18.0pt;"> <!--[if !supportLists]--><span lang="EN-US">a)<span style="font-size: 7pt;">      </span></span><!--[endif]--><span lang="EN-US">Voter identity card<o:p></o:p></span></div> <div class="MsoListParagraphCxSpMiddle" style="margin-left: 72.0pt; mso-add-space: auto; mso-list: l3 level1 lfo6; text-align: justify; text-indent: -18.0pt;"> <!--[if !supportLists]--><span lang="EN-US">b)<span style="font-size: 7pt;">      </span></span><!--[endif]--><span lang="EN-US">Driving license<o:p></o:p></span></div> <div class="MsoListParagraphCxSpMiddle" style="margin-left: 72.0pt; mso-add-space: auto; mso-list: l3 level1 lfo6; text-align: justify; text-indent: -18.0pt;"> <!--[if !supportLists]--><span lang="EN-US">c)<span style="font-size: 7pt;">       </span></span><!--[endif]--><span lang="EN-US">Passport<o:p></o:p></span></div> <div class="MsoListParagraphCxSpMiddle" style="margin-left: 72.0pt; mso-add-space: auto; mso-list: l3 level1 lfo6; text-align: justify; text-indent: -18.0pt;"> <!--[if !supportLists]--><span lang="EN-US">d)<span style="font-size: 7pt;">      </span></span><!--[endif]--><span lang="EN-US">Bank account statement<o:p></o:p></span></div> <div class="MsoListParagraphCxSpMiddle" style="margin-left: 72.0pt; mso-add-space: auto; mso-list: l3 level1 lfo6; text-align: justify; text-indent: -18.0pt;"> <!--[if !supportLists]--><span lang="EN-US">e)<span style="font-size: 7pt;">      </span></span><!--[endif]--><span lang="EN-US">Credit card/debit card<o:p></o:p></span></div> <div class="MsoListParagraphCxSpMiddle" style="margin-left: 72.0pt; mso-add-space: auto; mso-list: l3 level1 lfo6; text-align: justify; text-indent: -18.0pt;"> <!--[if !supportLists]--><span lang="EN-US">f)<span style="font-size: 7pt;">       </span></span><!--[endif]--><span lang="EN-US">Ration card<o:p></o:p></span></div> <div class="MsoListParagraphCxSpMiddle" style="margin-left: 72.0pt; mso-add-space: auto; mso-list: l3 level1 lfo6; text-align: justify; text-indent: -18.0pt;"> <!--[if !supportLists]--><span lang="EN-US">g)<span style="font-size: 7pt;">      </span></span><!--[endif]--><span lang="EN-US">Telephone bill<o:p></o:p></span></div> <div class="MsoListParagraphCxSpMiddle" style="margin-left: 72.0pt; mso-add-space: auto; mso-list: l3 level1 lfo6; text-align: justify; text-indent: -18.0pt;"> <!--[if !supportLists]--><span lang="EN-US">h)<span style="font-size: 7pt;">      </span></span><!--[endif]--><span lang="EN-US">Employer certificate<o:p></o:p></span></div> <div class="MsoListParagraphCxSpMiddle" style="margin-left: 72.0pt; mso-add-space: auto; mso-list: l3 level1 lfo6; text-align: justify; text-indent: -18.0pt;"> <!--[if !supportLists]--><span lang="EN-US">i)<span style="font-size: 7pt;">        </span></span><!--[endif]--><span lang="EN-US">Electricity bill<o:p></o:p></span></div> <div class="MsoListParagraphCxSpMiddle" style="margin-left: 72.0pt; mso-add-space: auto; mso-list: l3 level1 lfo6; text-align: justify; text-indent: -18.0pt;"> <!--[if !supportLists]--><span lang="EN-US">j)<span style="font-size: 7pt;">        </span></span><!--[endif]--><span lang="EN-US">Property tax assessment of order<o:p></o:p></span></div> <div class="MsoListParagraphCxSpMiddle" style="margin-left: 72.0pt; mso-add-space: auto; mso-list: l3 level1 lfo6; text-align: justify; text-indent: -18.0pt;"> <span lang="EN-US"><br /></span></div> <div class="MsoListParagraphCxSpMiddle" style="text-align: justify;"> <span lang="EN-US">             When the above mentioned points are completed, the application is accepted of the applicant. He/she obtains a laminated PAN card within 60 days.</span></div> <div class="MsoListParagraphCxSpMiddle" style="text-align: justify;"> <span lang="EN-US" style="font-family: Wingdings; text-indent: -18pt;"><br /></span></div> <div class="MsoListParagraphCxSpMiddle" style="text-align: left;"> <span style="font-size: large;"><b><span lang="EN-US" style="font-family: Wingdings; text-indent: -18pt;">Ø<span style="font-family: 'Times New Roman';">  </span></span><span style="text-indent: -18pt;"><span lang="EN-US">Application for duplicate PAN :</span></span></b></span></div> <div class="MsoListParagraphCxSpMiddle" style="margin-left: 72.0pt; mso-add-space: auto; text-align: justify;"> <br /></div> <div class="MsoListParagraphCxSpMiddle" style="text-align: justify;"> <span lang="EN-US">                If the original PAN card of the person is lost or damaged, he/she can apply for the duplicate PAN card and also make changes in it. The procedure for applying the duplicate PAN card is as follows:<o:p></o:p></span></div> <div class="MsoListParagraphCxSpMiddle" style="text-align: justify;"> <br /></div> <div class="MsoListParagraphCxSpMiddle" style="text-align: justify;"> <span lang="EN-US">Fill          : - first step is to fill the application form (composite service form)<o:p></o:p></span></div> <div class="MsoListParagraphCxSpMiddle" style="text-align: justify;"> <span lang="EN-US">Pay         : - make payment of fees online<o:p></o:p></span></div> <div class="MsoListParagraphCxSpMiddle" style="text-align: justify;"> <span lang="EN-US">Sign        : - download the prefilled application form<o:p></o:p></span></div> <div class="MsoListParagraphCxSpMiddle" style="text-align: justify;"> <span lang="EN-US">Affix       : - affixing the photo & signature in the prefilled application form<o:p></o:p></span></div> <div class="MsoListParagraphCxSpMiddle" style="text-align: justify;"> <span lang="EN-US">Attach    : - attach all the supporting documents which are given as under<o:p></o:p></span></div> <div class="MsoListParagraphCxSpMiddle" style="text-align: justify;"> <span lang="EN-US">Send      : - sending the signed application along with supporting documents by post or courier to the address given in the welcome mail.<o:p></o:p></span></div> <div class="MsoListParagraphCxSpMiddle" style="text-align: justify;"> <br /></div> <div class="MsoListParagraphCxSpMiddle" style="margin-left: 72.0pt; mso-add-space: auto; mso-list: l7 level1 lfo8; text-align: justify; text-indent: -18.0pt;"> <!--[if !supportLists]--><span lang="EN-US">-<span style="font-size: 7pt;">          </span></span><!--[endif]--><span lang="EN-US">List of supporting documents to be submitted with the application form –<o:p></o:p></span></div> <div class="MsoListParagraphCxSpMiddle" style="margin-left: 108.0pt; mso-add-space: auto; mso-list: l4 level1 lfo9; text-align: justify; text-indent: -18.0pt;"> <!--[if !supportLists]--><span lang="EN-US">a)<span style="font-size: 7pt;">      </span></span><!--[endif]--><span lang="EN-US">Proof of PAN (copy of damaged or lost card)<o:p></o:p></span></div> <div class="MsoListParagraphCxSpMiddle" style="margin-left: 108.0pt; mso-add-space: auto; mso-list: l4 level1 lfo9; text-align: justify; text-indent: -18.0pt;"> <!--[if !supportLists]--><span lang="EN-US">b)<span style="font-size: 7pt;">      </span></span><!--[endif]--><span lang="EN-US">Proof of identity<o:p></o:p></span></div> <div class="MsoListParagraphCxSpMiddle" style="margin-left: 108.0pt; mso-add-space: auto; mso-list: l4 level1 lfo9; text-align: justify; text-indent: -18.0pt;"> <!--[if !supportLists]--><span lang="EN-US">c)<span style="font-size: 7pt;">       </span></span><!--[endif]--><span lang="EN-US">Proof of address<o:p></o:p></span></div> <br /> <div class="MsoListParagraphCxSpLast" style="margin-left: 108.0pt; mso-add-space: auto; mso-list: l4 level1 lfo9; text-align: justify; text-indent: -18.0pt;"> <!--[if !supportLists]--><span lang="EN-US">d)<span style="font-size: 7pt;">      </span></span><!--[endif]--><span lang="EN-US">Proof in support of changes required (if any)<o:p></o:p></span></div> <br /> <br /> <div style="text-align: center;"> <span style="color: red; font-size: x-large;"><b><u><a href="http://www.taxfinanceinfo.com/2013/11/use-of-pan-know-your-pan-status-pan.html"><span style="color: red;">Uses of PAN</span></a>...</u></b></span></div> <br /> <div class="MsoListParagraphCxSpFirst" style="text-align: justify; text-indent: 36.0pt;"> <span lang="EN-US">PAN card is a permanent account number which is issued by the income tax authority for <a href="http://www.taxfinanceinfo.com/2013/11/use-of-pan-know-your-pan-status-pan.html"><span style="color: red;">various purposes</span></a>. The different uses of PAN card are as follows:-<o:p></o:p></span></div> <div class="MsoListParagraphCxSpFirst" style="text-align: justify; text-indent: 36.0pt;"> <span lang="EN-US"><br /></span></div> <div class="MsoListParagraphCxSpMiddle" style="mso-list: l1 level1 lfo1; text-align: justify; text-indent: -18.0pt;"> <!--[if !supportLists]--><span lang="EN-US" style="font-family: Symbol; mso-bidi-font-family: Symbol; mso-fareast-font-family: Symbol;">      ·<span style="font-family: 'Times New Roman'; font-size: 7pt;">         </span></span><!--[endif]--><span lang="EN-US">The main use of PAN number is to prevent the tax evasion. For that purpose section 139A of income tax act, 1961 is lays down.<o:p></o:p></span></div> <div class="MsoListParagraphCxSpMiddle" style="mso-list: l1 level1 lfo1; text-align: justify; text-indent: -18.0pt;"> <span lang="EN-US"><br /></span></div> <div class="MsoListParagraphCxSpMiddle" style="mso-list: l1 level1 lfo1; text-align: justify; text-indent: -18.0pt;"> <!--[if !supportLists]--><span lang="EN-US" style="font-family: Symbol; mso-bidi-font-family: Symbol; mso-fareast-font-family: Symbol;">      ·<span style="font-family: 'Times New Roman'; font-size: 7pt;">         </span></span><!--[endif]--><span lang="EN-US">It can be used as an identity proof of the person.<o:p></o:p></span></div> <div class="MsoListParagraphCxSpMiddle" style="mso-list: l1 level1 lfo1; text-align: justify; text-indent: -18.0pt;"> <span lang="EN-US"><br /></span></div> <div class="MsoListParagraphCxSpMiddle" style="mso-list: l1 level1 lfo1; text-align: justify; text-indent: -18.0pt;"> <!--[if !supportLists]--><span lang="EN-US" style="font-family: Symbol; mso-bidi-font-family: Symbol; mso-fareast-font-family: Symbol;">      ·<span style="font-family: 'Times New Roman'; font-size: 7pt;">         </span></span><!--[endif]--><span lang="EN-US">While opening a bank account or carrying out any financial transactions, a PAN card is required as an identity proof.<o:p></o:p></span></div> <div class="MsoListParagraphCxSpMiddle" style="mso-list: l1 level1 lfo1; text-align: justify; text-indent: -18.0pt;"> <span lang="EN-US"><br /></span></div> <div class="MsoListParagraphCxSpMiddle" style="mso-list: l1 level1 lfo1; text-align: justify; text-indent: -18.0pt;"> <!--[if !supportLists]--><span lang="EN-US" style="font-family: Symbol; mso-bidi-font-family: Symbol; mso-fareast-font-family: Symbol;">      ·<span style="font-family: 'Times New Roman'; font-size: 7pt;">         </span></span><!--[endif]--><span lang="EN-US">PAN number is the same as nine digit social security number (SSN) which is issued in the United States of America to their people.<o:p></o:p></span></div> <div class="MsoListParagraphCxSpMiddle" style="mso-list: l1 level1 lfo1; text-align: justify; text-indent: -18.0pt;"> <span lang="EN-US"><br /></span></div> <div class="MsoListParagraphCxSpMiddle" style="mso-list: l1 level1 lfo1; text-align: justify; text-indent: -18.0pt;"> <!--[if !supportLists]--><span lang="EN-US" style="font-family: Symbol; mso-bidi-font-family: Symbol; mso-fareast-font-family: Symbol;">      ·<span style="font-family: 'Times New Roman'; font-size: 7pt;">         </span></span><!--[endif]--><span lang="EN-US">The PAN card number is used in every financial transaction of money transfer.<o:p></o:p></span></div> <div class="MsoListParagraphCxSpMiddle" style="mso-list: l1 level1 lfo1; text-align: justify; text-indent: -18.0pt;"> <span lang="EN-US"><br /></span></div> <div class="MsoListParagraphCxSpMiddle" style="mso-list: l1 level1 lfo1; text-align: justify; text-indent: -18.0pt;"> <!--[if !supportLists]--><span lang="EN-US" style="font-family: Symbol; mso-bidi-font-family: Symbol; mso-fareast-font-family: Symbol;">      ·<span style="font-family: 'Times New Roman'; font-size: 7pt;">         </span></span><!--[endif]--><span lang="EN-US">It is also useful for the income tax department to keep all the records of the person in tax related matters and prevent the tax evasion.<o:p></o:p></span></div> <div class="MsoListParagraphCxSpMiddle" style="mso-list: l1 level1 lfo1; text-align: justify; text-indent: -18.0pt;"> <span lang="EN-US"><br /></span></div> <div class="MsoListParagraphCxSpMiddle" style="mso-list: l1 level1 lfo1; text-align: justify; text-indent: -18.0pt;"> <!--[if !supportLists]--><span lang="EN-US" style="font-family: Symbol; mso-bidi-font-family: Symbol; mso-fareast-font-family: Symbol;">      ·<span style="font-family: 'Times New Roman'; font-size: 7pt;">         </span></span><!--[endif]--><span lang="EN-US">A PAN card is mandatorily used in the following transactions –<o:p></o:p></span></div> <div class="MsoListParagraphCxSpMiddle" style="mso-list: l1 level1 lfo1; text-align: justify; text-indent: -18.0pt;"> <span lang="EN-US"><br /></span></div> <div class="MsoListParagraphCxSpMiddle" style="margin-left: 72.0pt; mso-add-space: auto; mso-list: l2 level1 lfo2; text-align: justify; text-indent: -18.0pt;"> <!--[if !supportLists]--><span lang="EN-US">-<span style="font-size: 7pt;">          </span></span><!--[endif]--><span lang="EN-US">Applying for a credit card<o:p></o:p></span></div> <div class="MsoListParagraphCxSpMiddle" style="margin-left: 72.0pt; mso-add-space: auto; mso-list: l2 level1 lfo2; text-align: justify; text-indent: -18.0pt;"> <!--[if !supportLists]--><span lang="EN-US">-<span style="font-size: 7pt;">          </span></span><!--[endif]--><span lang="EN-US">Paying bills exceeding rs. 25000 or more in hotels<o:p></o:p></span></div> <div class="MsoListParagraphCxSpMiddle" style="margin-left: 72.0pt; mso-add-space: auto; mso-list: l2 level1 lfo2; text-align: justify; text-indent: -18.0pt;"> <!--[if !supportLists]--><span lang="EN-US">-<span style="font-size: 7pt;">          </span></span><!--[endif]--><span lang="EN-US">For filling income tax return<o:p></o:p></span></div> <div class="MsoListParagraphCxSpMiddle" style="margin-left: 72.0pt; mso-add-space: auto; mso-list: l2 level1 lfo2; text-align: justify; text-indent: -18.0pt;"> <!--[if !supportLists]--><span lang="EN-US">-<span style="font-size: 7pt;">          </span></span><!--[endif]--><span lang="EN-US">Opening a bank account<o:p></o:p></span></div> <div class="MsoListParagraphCxSpMiddle" style="margin-left: 72.0pt; mso-add-space: auto; mso-list: l2 level1 lfo2; text-align: justify; text-indent: -18.0pt;"> <!--[if !supportLists]--><span lang="EN-US">-<span style="font-size: 7pt;">          </span></span><!--[endif]--><span lang="EN-US">Taking a loan from a bank<o:p></o:p></span></div> <div class="MsoListParagraphCxSpMiddle" style="margin-left: 72.0pt; mso-add-space: auto; mso-list: l2 level1 lfo2; text-align: justify; text-indent: -18.0pt;"> <!--[if !supportLists]--><span lang="EN-US">-<span style="font-size: 7pt;">          </span></span><!--[endif]--><span lang="EN-US">Purchase of vehicles<o:p></o:p></span></div> <div class="MsoListParagraphCxSpMiddle" style="margin-left: 72.0pt; mso-add-space: auto; mso-list: l2 level1 lfo2; text-align: justify; text-indent: -18.0pt;"> <!--[if !supportLists]--><span lang="EN-US">-<span style="font-size: 7pt;">          </span></span><!--[endif]--><span lang="EN-US">Getting a job, etc.<o:p></o:p></span></div> <div class="MsoListParagraphCxSpMiddle" style="margin-left: 72.0pt; mso-add-space: auto; text-align: justify;"> <br /></div> <span style="font-size: large;"><b><span lang="EN-US" style="font-family: Wingdings; text-indent: -18pt;">Ø<span style="font-family: 'Times New Roman';">  </span></span><span style="text-indent: -18pt;"><span lang="EN-US">Other important points about <a href="http://www.taxfinanceinfo.com/2014/02/know-your-pan-permanent-accout-number-incometaxindiaefiling.gov.in.html"><span style="color: red;">PAN card</span></a> :</span></span></b></span><br /> <br /> <span style="text-align: justify; text-indent: 24px;">The PAN card number is useful in the above mentioned transactions, but there is certain transaction in which the requirement of filling the PAN card numbers is not necessary if the form no. 60 or form no. 61 is filled with it. Non-resident-Indians can fill the form no 60 instead of or due to non having PAN number and it is not mandatory to have PAN number. But having a PAN card number is beneficial for them.      </span><br /> <span style="text-align: justify; text-indent: 24px;"><br /></span> </div>

Know Your PAN - Permanent Account Number - incometaxindiaefiling.gov.in

Know Your PAN - Permanent Account Number - incometaxindiaefiling.gov.in This article is all about to Know Your PAN i.e. Permanent Accoun...

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