Permanent Account Number (PAN)

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Net sales up 8.67% at Rs.259.5cr vs Rs.238.8cr (QoQ)
Q1 PAT up 22.3% at Rs.17cr vs Rs.13.9cr (QoQ)
Watch CEO Exchange At 8:30 Sat & Sun
Board approves 1:10 bonus issue
Vishal Info Tech IPO closes; Subscribed 1.19 times
Inflation and IIP not moving in tandem: CMIE
Expect inflation to come down but very gradually
Mfg products & primary inflation still remain an issue
Inflation at 11.89% slightly below expectations
Oil & Gas Index up 1.5%, Realty Index up 0.6%
Power Index down 2%, Bankex down 1.8%
Metal Index down 2.9%, IT Index down 2.8%
Midcaps Index down 0.3%, Smallcap Index down 0.2%
Sensex down 1.1%, Nifty down 1% at close
Machine and machine tools up 0.2%
Fruits and vegetables up 2%
Inflation at 11.89% for week ended July 12 vs 11.91%
Non-Food articles up 0.8%; Food articles up 0.6%
Fuel, Power, Lights remain unchanged
Manufactured products up 0.05%
Inflation for week ended May 17 revised to 8.66%
Inflation remains stable: Finance Ministry
Good performance despite challenging environment
RIL Q1 Exports up 112% at Rs.28,357 cr (YoY)
RIL Q1 Other income up 14.7% at Rs.226cr vs Rs.197cr (YoY)
RIL Q1 EPS up 13.2% at Rs.28.3 vs Rs.25 (YoY)
RIL Q1 GRMs at $15.70/bbl vs $15.40/bbl (YoY)
PAT up 13.2% at Rs.4110 cr vs Rs.3630 cr (YoY)
Sales up 41% at Rs.41,579 cr vs Rs.29,504 cr (YoY)
Q1 PAT at Rs.263 cr vs Rs.308.5 cr (YoY) (cons)

Updated: 04/02/2008 | 04:49 PM IST

Taxation

KPMG

Monday, February 04, 2008 (New Delhi)

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PAN is an income tax registration number. Following persons are required to apply to the Income Tax department for obtaining PAN:

-A person whose income exceeds the maximum amount not chargeable to tax (i.e. Rs. 110,000);

-A person carrying on any business or profession whose total sales/turnover/gross receipts exceed Rs. 500,000 during the year;

-Charitable trusts required to file return under section 139(4A) of the IT Act;

-An employer required to furnish a return of fringe benefits.

The government may also notify other persons who are required to obtain PAN.

PAN is required to be quoted by a taxpayer in his tax return, in all correspondence with the income tax department and on challans for payment of taxes. In recent times, PAN has assumed greater significance as it is also required to be quoted while entering into certain specified transactions like purchase/sale of an immovable property, making a fixed deposit with banks etc.

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