Author Topic: Pan Card  (Read 2880 times)

Charanjeet Singh Zira

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Re: Pan Card
« Reply #10 on: September 14, 2012, 04:34:22 AM »
thanx..

vikramjit singh

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Re: Pan Card
« Reply #11 on: February 07, 2013, 05:54:22 AM »
[color=red

Mumbai, February 6
Seeking to check demand of gold, an RBI committee today proposed a slew of measures like mandatory quoting of PAN numbers for high-value purchases, restriction on gold loans and check on NBFC branches dealing with gold loans.

The RBI committee also suggested cheque payment for gold purchase beyond a threshold, introduction of other savings products to discourage investment in physical gold, prohibition of bank finance for buying gold and revival of the two-decade-old proposal to set up a Bullion Corporation.

"There is a need to moderate the demand for gold imports considering its impact on the current account deficit," it said, adding RBI may impose limits on volume and value of gold import by banks under "extreme situation".

It suggested that NBFCs may obtain a copy of PAN Card in all the loan proposals exceeding Rs 5 lakh per borrower to strengthen mechanism of KYC. Currently, PAN card is mandatory for jewellery purchases beyond Rs 5 lakh. It underlined the need for continuous monitoring of rapid growth of assets, borrowings and branch network of gold loan NBFCs, while making a case for reviewing fund raising by them. PTI[/color]

vikramjit singh

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Re: Pan Card
« Reply #12 on: February 07, 2013, 05:54:49 AM »

     

RBI panel proposes to set up gold bank
Move aimed at containing current account deficit

Mumbai, February 6
An RBI panel has revived the proposal of setting up a gold bank, or Bullion Corporation of India, to reduce imports of the metal - an idea mooted over two decades ago by the then Finance Minister Manmohan Singh.

"With considerable changes in policy related to gold over the past 20 years, the proposal for setting up a Bullion Corporation of India (BCI) needs to be revisited and activated," a committee, headed by KUB Rao, to study the issue of gold imports said in its final report.

Such a bank will reduce the gold imports, which are a major worry vis-a-vis the current account deficit, by greater activation of the domestic idle gold, it said.

The proposal to set up a gold bank was first floated by the then Finance Minister Manmohan Singh in his budget speech in February 1992. The idea was, however, never implemented.

The working group said there is a "strong intellectual support" for the idea at present and the banks' umbrella body, the Indian Banks Association (IBA), has also supported it.

Delaying or postponing the setting up of the BCI "is detrimental to the gold dynamics in the economy", it warned.

"Given the insatiable demand for gold from the Indian residents, there is a strong need for creating an institution to facilitate the activation of dealing in domestic idle gold and to provide liquidity and refinance to institutions/banks," it said.

The bank's functions will include acting as a 'backstop facility' to offer refinance of gold to institutions lending against the collateral of gold, issuance of gold bonds in lieu of collection of gold stocks, storage and safekeeping facilities for bullions and close coordination with other international bodies such as World Gold Council.

The group said initial capital for setting up the corporation can be contributed by the Reserve Bank and select commercial banks and institutions, and pegged the authorised capital at Rs 2,000 crore and the paid-up capital at Rs 1,000 crore.

Suggests cap on import of gold

Concerned over rising gold imports, a RBI committee today suggested limits on imports of gold by banks and other government agencies like MMTC and STC, which account for about 56 per cent of the total import of the precious metal.

"Setting value or quantum limits for canalising agencies and banks to import gold can also reduce the demand for gold. Such limits can be reviewed periodically," said a report of RBI's working group on gold loans. PTI

Proposal revived after 20 years

    The idea was mooted over two decades ago by the then Finance Minister Manmohan Singh
    The bank will reduce gold imports by greater activation of the domestic idle gold
    Initial capital for setting up the corporation can be contributed by the RBI and select commercial banks, institutions
    Current account deficit touched a record high of 5.4 per cent in the July-Sept quarter last year
    Gold imports in the April-December period stood at $38 billion. In 2011-12 fiscal, it was $56.5 billion

ritu goyal

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Re: Pan Card
« Reply #13 on: June 11, 2013, 02:56:14 PM »
sir j pan card na bnvaia hove tan

Harpal

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Re: Pan Card
« Reply #14 on: June 11, 2013, 05:30:05 PM »
sir j pan card na bnvaia hove tan

ghabraun d koi gall ni hunn banba lavo g

sheemar

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Re: Pan Card
« Reply #15 on: July 05, 2013, 08:24:05 AM »

sheemar

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Re: Pan Card
« Reply #16 on: July 22, 2013, 09:03:48 AM »
[blink]10000 जुर्माना[/blink]


« Last Edit: July 22, 2013, 09:12:18 AM by sheemar »

Amandeep Sahni

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Re: Pan Card
« Reply #17 on: August 16, 2013, 08:46:46 PM »
PAN Application form
« Last Edit: August 16, 2013, 08:50:17 PM by Amandeep Sahni »

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Re: Pan Card
« Reply #18 on: August 17, 2013, 10:13:18 AM »
PAN Application form
sir ki is link through new pan card online apply kita ja skda ? If yes ta esdi fees vgera kithe bharni pavegi fir ? Tel me plz i need new pan card.

gunnu

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Re: Pan Card
« Reply #19 on: October 13, 2013, 05:06:00 PM »
The importance of Permanent Account Number (PAN) card has grown over the years, and it is today an essential part of our lives. The most important purpose of allotting PAN to an entity is for the purpose of identification and to track all the related monetary information of that entity. Initially, the significance of PAN was for filing income tax returns. Over time, PAN was used in dealings with the stock markets, banks and purchase of real estate and vehicles. Today, PAN has started finding use in unconventional areas as well, as follows:
   Bank Fixed Deposits: If you open a fixed deposit with your bank for an amount exceeding Rs. 50,000, a copy of PAN card needs to be given. In absence of PAN, the bank will deduct TDS of 20% or at the prevailing rate, whichever is higher (instead of the normal 10%). Further, the bank will not issue TDS certificate. Form 15G/15H and other exemption certificates will be invalid in this case.

   Payment in Hotels and Restaurants: You may asked to submit a copy of your PAN if you pay cash in hotels or restaurants against bills for an amount exceeding Rs. 25,000
   Payment to Travel Agents: Cash payment more than Rs. 25,000 for travel to any foreign country (fare or purchase of foreign currency) in a single payment requires you to produce your PAN copy

   Rental Agreements: Nowadays, landlords demand a copy of the PAN card of tenants, as the primary ID proof, while letting out their property.
   Jewellery shops: High-value purchase of jewellery in cash should be accompanied by a copy of the PAN card of the buyer, mainly as a means to curb black money usage.

Other usages of PAN include:
   Payment in Second Hand Car Dealings
    Installation of Telephone
    Visa Facilitation Centres

It is seen that quoting or producing a copy of your PAN card is compulsory in practically every money transaction, and not restricted to Income Tax dealings. The significance of PAN cannot be questioned as this has become the primary document sought in all important legitimate dealings.
Do NRIs require PAN Card?

As PAN is required for any financial transaction in India, an NRI will need to have a PAN card if he has an income in India and has to file returns, if he wishes to invest in India, when he carries out banking transactions, if he purchases real estate or for any transaction mentioned above.
Beware of PAN Frauds:

The increasing importance of PAN has increased the likeliness of PAN Card identity theft. The safeguarding of the physical copy of the PAN card no longer assures that your card is not being misused. As a majority of transactions demand a photocopy of your PAN card, or simply quoting the Permanent Account Number, it is very easy for your information to be misused for high ticket purchases or benami property transactions. A copy of your PAN card or simply its number can be quoted in transactions, which you are not even a part of.
Example of how your information can be misused: Recently, a consumer activist group revealed that the PAN card copy used in Railway ticket Tatkal bookings were misused by several jewellers. When an individual produces his PAN to book the Tatkal tickets, this information is fed in the Indian Railways system and also displayed on the ticket, reservation chart and train coaches. Unscrupulous jewellers steal this information from such public displays and use it to furnish tax collected details while they sell jewellery of very high value to high-net worth individuals who do not wish to produce their PAN.
If this happens to you?

When your PAN card is illegally used, you may not even be aware of this for atleast 6 months after the wrong transaction. You can check for such benami transactions by going through your Form 26AS, which is a consolidated statement of tax deducted, along with other details. If you are a non-tax paying PAN card holder, you may not even be able to check this form. The Income Tax department will require the PAN card holder to prove that the transaction was not carried out by him, and also give details on his source of funds. This becomes very difficult and time-consuming. As a PAN card holder, you should take care while disclosing your PAN details to anyone. You must hand over only signed photocopies and try to reduce using PAN in all casual transactions as ID proof.
Phonetic PAN (PPAN):

The phonetic PAN (PPAN) is a new concept introduced to prevent a single PAN being allotted to more than one assessee with same or similar names. When PAN is allotted, the PPAN of the assessee is compared with the PPANs of all the assessees to whom PAN has been allotted in the country. A warning is sounded off if a matching PPAN is detected. A duplicate PPAN report is then generated. A new PAN can be allotted only if the Assessing Officer overrides this duplicate PPAN detection.
Thus the PAN is a key document today and even takes predominance over your name as far as the tax authorities are concerned.

 

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