The Tax Preparation Blog

Posts Tagged ‘india’

Question: HOW TO KNOW PAN NUMBER OF COMPANY?

I want to know the system of knowing PAN number of a company. Does a company have a surname as asked in Income tax website. What is the surname and PAN number of Power Trading Corporation of India

Answer: You should write the full name of company at feild “Surname”. Further you also need date of incorporation of co at the same link to know co PAN.

BRIEFLY: Feb. 18

See what’s happening in and around Halifax and Plympton.

taxguru weekly telecast every saturday by manoram news tv,this episode is dtd 4-10-2008

Question: PAN Card: Convert from Indian Resident Status to NRI status?

Had PAN card when I was living in India. Since last 9 yrs I am living outside India. I would like to make some investments in India and need to have NRI PAN card for that purpose. Would like to keep things legal so is there a way to convert existing Indian status PAN card to NRI status?

If no, please suggest the right procedure to terminate the old PAN card and apply for the new NRI PAN Card. Income Tax department speciically mentions that “Obtaining or possessing more than one PAN is against the law.” {Section 139A (7)}.

Please help.

Answer: All you need to do is to fill in the Changes / Corrections in PAN Card No and also give the name and address of a REpresentative Assessee in India and you can continue with the same PAN No

Coloured money ‘secrecy’ invites judiciary’s angst!

The Apex Court’s directive last week to widen the net on disclosure of offshore bank accounts seems to have eventually put the ‘coloured’ money conundrum in perspective. The existence of long-living ‘parallel’ economy seem to have hit the discomfort zone of commoners after a group of eminent citizens filed a public interest litigation (PIL) alleging government inaction in dealing with the menace …

NewsX Video: India Inc happy with new Tax Code

Question: Tax Exemption for disabled person in india on lottery winning prize?

Suppose a disabled person in india win playwin superlotto prize of 2,00,00,000(Two crore rupees) how much prize amount he will get after deducting the tax? Is there any tax excemption for disabled in india in above case? please mention the rate of income tax and tax exemption.

Answer: no expemtion on ottery winnings

Govt may enhance I-T exemption limit in coming Budget

At present, income over 8 lakh attracts the highest slab of 30%. The Bill has proposed the 30% rate for income in excess of 10 lakh.

Common man ‘dissatisfied’ with Union Budget 2010-11

Question: rights of income tax payer during search – survey in india?

Answer: Bharath, can you elaborate on your question pls…

Cheers,
Anand

http://anandvijayakumar.blogspot.com

mail me at anandvijayakumar@ymail.com if you need any more details.

Have a long-term perspective

At eight per cent, returns from infrastructure bonds are decent. But liquidity is an issue.

Incometax

Prosecutions of tax evaders up 25%

Criminal tax prosecutions by the federal government hit a 10-year high in 2010, powered in part by a continuing crackdown on offshore tax evasion by wealthy Americans.