Posted by ni2financial on December 7, 2009
There are many people who are having a hard time remembering their old pan numbers, especially if they have lost their pan card or do not remember the old pan number. Finding out the correct pan is not only a difficult task but also very tedious if one doesn’t have any proof of the pan allotted to him. The good news is that there are a few brokers who can assist you to help you know your pan, if you have no pan proof at all.
Are you asking any of the below questions to yourself:
What is my pan number?
I want to know my pan?
How to find my old pan number online?
How to know my pan number?
Well if any of the above questions is coming to your head, then let us tell you that you have come to the right article where you will know the way to find your permanent account number.
The Income Tax Department has made it possible for users to find out the old pan number which was allotted to them, especially if the pan holder says that I do not remember my pan card number.
Are you ready?
Yes I want to know my pan:
http://www.nripan.com/know.html
On the above link you can go and put in your pan questions or inquiry, and they will get back to you with your pan number, which for some reason you are unable to retrieve online.
In a case where you are frustrated in knowing the pan number, you may go to the link above and find your pan details. Once you have those details you can take a print out and then apply for a replacement/duplicate pan card online. Best option is to go directly to the government to apply for such a tax number from India or you can take help of a broker like: www.PanCardNri.com
You would have to provide such a pan proof that you have fetched/retrieved online, and along with this proof you can attach a passport copy as an ID (identity) proof along with an address proof. If you are a NRI or a foreign passport holder (OCI or PIO) then also you can apply for such a duplicate pan card even though you do not have any address proof in India, meaning you can still acquire and update your existing pan card without having any Indian address proof.
Do not worry if you cannot find pan no or a way to locate your pan, as now you can go ahead and find your pan by address, pan with address, pan with date of birth, etc.
Enjoy yourself and happy applying.
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Posted by ni2financial on December 4, 2009
Many foreign investors have reservations about the Indian Tax System as they feel it is too complicated and hard on them. But in reality, things have been streamlined in recent years to provide lucrative opportunities for direct inflow of investments. Globalization and need to get more money from abroad up and running has made the tax structure and system more investment friendly than in the past.
Clearly demarcated tax structure
Among the countries in South Asia you are looking for investing, India is the best bet as it has a highly organized and developed tax structure. The amount that needs to be paid is clearly separated and managed by the state, central and the local authorities. All taxes on income are levied by the central government including excise and custom duties, tax on services, but the state governments are only empowered to tax income from agriculture.
Tax administration and rationalization has been going on in India for the last 10 years leading to better simplification, compliance and enforcement. The Indian Income tax department has got most of the tax return filing online, making it simpler for the tax payers. Excise duties, professional tax, value added tax, land revenue and stamp duty on real estate buying fall under the purview of the states while taxes on properties, water and other utilities are levied by local authorities. Even though things are better nowadays on the tax front, the process of streamlining them as well as making them easy to follow is very much on.
If you are planning to start a company in India, taxes are levied on all incomes earned from global and domestic operations. Those companies that are non-resident, are taxed on the basis of their incomes earned form their operations in India. Companies are termed resident when their offices and managed are based in India. Indian companies or corporations pay 35% tax and a surcharge of 2.5% while those based abroad require paying 40% and a surcharge of 2.5%. You have to pay a surcharge of 2% on your tax payables known as a cess on education.
Every budget has lucrative benefits
There are always something lucrative and new that comes out with each year’s budget much to the delight of investors wanting to park their funds in India. For those corporations that have taxable incomes of Rs.1 crore or less need not pay the surcharge anymore. Investors usually delight in the new incentives that are liberally showered to get more investments flowing in from abroad. You can also benefit from tax holidays in some areas in India that could extend for five years. But the rate of dividend tax has been raised by 2.5% while the mutual fund companies have to pay nearly 25%.
As the government is gearing up for developing education among the backward classes of India, educational cess and charges are levied on investors and companies. Capital gains taxes are charged both for the short term and long term. Long term capital gains tax becomes applicable for assets that are with you for three years or more, but for shares and mutual finds the period is for one year.
But the sale of equities and mutual funds are exempt from tax while for other capital gains that are long term, the rate is a basic 20%. Normal rate for corporate taxes apply for short term gains while for equities and mutual funds the rate is 10%.
For individual income tax, the slabs change with every budget taking into consideration the utmost needs of taxpayers in that given year. There are lots of relief options for assesses in every given year to take advantage of several tax saving schemes that are always available and they are very much a part of the Indian tax system.
Please remember that this article just gives you some basic outline as to how the tax in India works, however in order to have in-depth knowledge on various taxes like service tax, wealth tax, India income tax you need to consult a professional legal consultant also known as chartered accountants (CAs). Also be advised that for you to file taxes in India one needs to have a PAN card (permanent account number) or TAN number.
Posted in NRI Taxation, Tax Services | Tagged: filing income tax return, filling income tax, income tax advice, income tax filing, income tax guide, income tax india, income tax online, Income TAX Rates, income tax rates india, Income TAX rules, income tax rules india, income tax service, income tax services, incometax india, india income tax, india nri taxation, india taxation, Indian PAN, Indian PAN Number, indian tax rates, NRI Income TAX, NRI PAN Card, NRI PAN Number, NRI Taxation, Pan Card, PAN Number, Permanent Account Number, service tax, tan number, tax rates india, Wealth Tax | Leave a Comment »
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