Podcast
Questions and Answers
In how many transactions is it mandatory to quote PAN?
In how many transactions is it mandatory to quote PAN?
- Several transactions specified under the Income Tax Act, 1961 (correct)
- All transactions
- Some transactions
- No transactions
What is the purpose of quoting PAN on return of income and challans for payment of taxes?
What is the purpose of quoting PAN on return of income and challans for payment of taxes?
- To delay the processing of income
- To reduce the amount of taxes paid
- To increase the processing time of income
- To ensure accurate credit of taxes paid (correct)
What is the penalty for possessing or using more than one PAN?
What is the penalty for possessing or using more than one PAN?
- Up to Rs. 20,000
- Up to Rs. 1,000
- Up to Rs. 10,000 (correct)
- Up to Rs. 5,000
Where can errors in the data printed on the PAN Card be reported?
Where can errors in the data printed on the PAN Card be reported?
What is the purpose of the website www.incometaxindia.gov.in?
What is the purpose of the website www.incometaxindia.gov.in?
What is special about the QR Code on the PAN Card?
What is special about the QR Code on the PAN Card?
What is the keyword to search for the specific Mobile App on Google Play Store?
What is the keyword to search for the specific Mobile App on Google Play Store?
Where should one report if more than one PAN has been allotted?
Where should one report if more than one PAN has been allotted?
Why is it necessary to quote PAN on return of income and challans for payment of taxes?
Why is it necessary to quote PAN on return of income and challans for payment of taxes?
What should you do if you have been allotted more than one PAN?
What should you do if you have been allotted more than one PAN?
Where can you find detailed information on PAN?
Where can you find detailed information on PAN?
What is the purpose of the QR Code on the PAN Card?
What is the purpose of the QR Code on the PAN Card?
What should you do if you find any error in the data printed on your PAN Card?
What should you do if you find any error in the data printed on your PAN Card?
What is the significance of Rule 114B of the Income Tax Rules, 1962?
What is the significance of Rule 114B of the Income Tax Rules, 1962?
