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s r | Iv been promoted in my organisation and my annual package is 2.5 lakhs.Is it a must to have PAN? |
If i dont have PAN then is it that i wont get my salary fo this month... i may sound stupid... plz answer...thanks |
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sam_saty
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PAN is mandatory for those assessee whose income is chargeable to tax. Suppose your income is taxable, you will be required to obtain PAN.
The problem of not having a pan are listed below
1) The employer would deduct applicable tax (TDS) and remit that sum along with other sum to the income tax account.
2) He then provides such deductee records along with payment to the IT department i.e called as ETDS filing. PAN compliance should be 95%. means, out of 100 deductees record 95% of record shall have PAN number.
3) if this is not complied then the company cannot file their return.
Because of this, the company is making it mandatory for all the taxable employees to provide PAN number.
4) Right now there is no enabling provision that safeguards the deductors interest. He has all responsibility to mention the PAN but dont have a right to ask the employee to compulsorily provide it.
5) The IT department is on the plan to provide for higher rate of TDS for deductees without PAN.The rate is maximum marginal rate. Say 33.99%. This will put the employee in a pressure and would get the PAN
6) PAN are allotted these days within 15 days with NSDL / UTI
7) if the PAN is not quoted , the credit would be not be available for that name and would not be available with the Assessing officer of the employee.
8) In such cases, The employee would be required to provide a TDS certificate.
9) The employer would insist to have PAN before issuing such certificate.
10) So finally you will be required to provide PAN.
So :)) In all simple terms, You are advised to have PAN and comply.
Be proud to be part of the OLTAS system :)
sathya
vyakul@gmail.com |
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jackofall
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Yes you sound stupid.
PAN is required to file ITR and for some other financial transactions. Not to receive salary. Even if you do not have a PAN your employer will pay you salary.
You will be required to file an ITR, so you will need a PAN. You need to apply for one.
Application should be submitted before May 31 of the assessment year.
PAN CARD FROM NSDL
Online Application for New PAN (Form 49A). Read the instructions at https://tin.tin.nsdl.com/pan/form49A.html
At the bottom of the page, select the category and click Select.
Know Your AO Code. You need to mention AO code on your PAN application. For information on AO code, http://tin.nsdl.com/aocode.asp |
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LionRoars
 |
If you dont have the PAN, your employer wont be able to deduct TDS and pay to the treasury, as for filing TDS Return PAN of deductee is mandatory. So he will be liable for Interest as well as Penalty u/s.201(1A).
So, if he is friendly and a close relative of yours, he may request you to get your PAN or if he is a grumpy old man like me, then he may not pay you at all unless you save him from his burden of hiring yourself.
So, its better for you to judge the character of your employer first before coming to any conclusion. |
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rajagopalan a
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Your employer has a responsibility to deduct tax from your salary and pay it on your behalf. Your salary income will defenitely attract tax. Unless you have a Permanent Account Number (PAN), tax deducted from your income cannot be remitted to your account. If you ask for time, possibly for one or two months your employer may not deduct tax from your salary, or if he deducts, he may keep it without remitting, till such time you get your PAN Number. |
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Soothing mama
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Yes, u need to have a PAN id.Once you start earning ...irrespective on wht amt u pay as taxes.....u have to file your taxes and a PAN id is a must.
Apart from the taxation angle....it also serves as a govt provided identification like Ratio card, etc |
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Jss
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Yes. Read when it is required to have PAN card, at http://mytaxes.in/index.php?topic=42.0 |
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chit
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pan is mandatory. it is not that u will not get the salary with out pan card, but the problem is something else. if your company deducts taxes from your salary, how will they deposit the same with the government without your pan number. so,get a pan card fast |
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tulsi gupta
 |
yes |
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