Reply to Notice u/s 245, Intimations u/s 143(1), Rectification Applications u/s 154

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You use the correct form especially if you have exempt income like House Rent Allowance, Conveyance Allowance or any other exempt income of more than 5000.(for AY 2015-16 ie FY 2014-15)


Also declare Savings Bank Interest which is now Tax Free u/s 80TTA

Tuesday, May 25, 2010

Latest circular on PAN Applications

Circular No: – NSDL/TIN/2010-339, May 22, 2010
Subject: – Acceptance of PAN applications – initials in the middle name.

Attention of all TIN-Facilitation Centers (TIN-FCs) is hereby invited to the procedure prescribed for accepting PAN applications. As you are aware, PAN applicants (individuals) are required to provide names (first name, middle name & last name) in expanded form in PAN applications submitted. Also, the supporting documents submitted as proof of identity and address should contain the applicant’s name in expanded form and as mentioned in the PAN application.
Income Tax Department (ITD) has now informed that PAN applications received from Individuals having initials (one single character) in the middle name (Applicant’s name, Applicant’s other name, Father’s Name, Representative Assessee’s name), may be accepted. Accordingly, the instructions for acceptance of PAN applications have been revised as below:

Initial (single character)

If the middle name of the abovementioned name fields contain one initial, then the application may be accepted provided they match exactly with the documents (proof of identity and proof of address) submitted by the applicant.
If the last name and/or first name part of the abovementioned name fields contain initial, then the application should be rejected.
It may be noted that the guidelines issued for acceptance of PAN applications having two character names, remain unchanged.

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