The Income Tax department has brought in new rules for PAN card from today by making an amendment to Income Tax Rules, 1962. As per the new rules, having a permanent account number is must for all entities doing transactions of over ₹2.5 lakh in a year. Also, the PAN card application form has been changed.
1 min read5 Dec 2018The government has amended Income Tax Rules, 1962, and has inserted new clauses. According to the new rules, having a PAN card is mandatory for all entities doing business of at least ₹2.5 lakh. The second amendment allows those with single mothers to not mention their father's name in PAN card application forms.
1 min read3 Dec 2018The Union Budget contains details about the estimated receipts and the expenditure of the government for a particular fiscal year. The Budget is allotted for the upcoming fiscal year, which runs from 1st April to 31st March of the next year. Here is a quick guide on how the Union Budget is prepared