h20ho, Author at h20ho Papers

August 29, 2012

PAN Card for NRI

A PAN card for NRI is compulsory for all non-resident Indians (NRI) who generate income in India in order to pay income tax as mandated by the Securities and Exchange board of India (SEBI). In addition, in order to own any land or property in India, an NRI is required to have a PAN card. If you are required to submit an income tax return on behalf of others then you must have a PAN card.

You can use Form 60, exemption to provide PAN, in order to purchase cars, etc. instead of applying for a PAN.

The NRI PAN card, like the PAN card, is issued by the Government of India Income Tax Department. In order to obtain a PAN Card for NRI first access the Government of India Income Tax Department portal and correctly fill in the online PAN application form. As an NRI, be sure to use your address abroad and not an address in India.

The form is submitted online however the acknowledgement receipt form needs to be downloaded, printed and mailed to the NSDL PAN in Mumbai with associated documentation. A fee of Rs 944 is required to be paid with the submission in order to process the application. In addition you can download the application form – Form 49A and mail it to the NSDL PAN in Mumbai with associated fees and documentation.

Associated required documents include proof of Identification (passport copy), proof of address abroad (utility bills, credit card bills, etc), Photocopy of non-resident external (NRE) bank account details notarized by the Indian Embassy, a photocopy of your foreign bank branch account details and a recent color photo.

You make a PAN Card enquiry online at the Government of India’s Income Tax department website.

August 29, 2012August 29, 2012

PAN Card Status Enquiry India

If you are concerned about your PAN card application process or the validity of a PAN card or data, Whether you are requesting allotment of a card, reprint of a card or changes or corrections to a card you will have to make a status enquiry either manually or online. If you make an online status enquiry then you will have to use the Government’s PAN Card status enquiry India website in order to find the status of your PAN Card application.

The Government of India Income Tax Department has mandated that having a PAN is required to pay or receive a refund of taxes in India. The PAN application process takes up to one month, costs fees and requires supporting documentation. You can initiate the PAN Application process in person, manually through the post or online.

There are two types of PAN Card application status enquiries. The first type of application status enquiry is for the status of a current allotment application where the applicant is applying for a first time PAN card. In addition, if your application is for a reprint of PAN card or corrections / changes of PAN data this type of status will deal with this application.

Another type of PAN Card status enquiry will come from authorized users of the verification process. Government agencies, organizations such as utilities, banks as well as other types of organizations pay to verify PAN Card statuses. Typical status would be ‘In database and active’, ‘not found in database’ or ‘Fake PAN’. An electricity utility company might verify a PAN upon request of a new account or a bank might verify data associated with a PAN.

There are two methods to check the status of your new PAN Card or your reprint of PAN Card, online or manually. Both processes cost money and both require supporting documentation to be submitted to the ITD. In addition, both processes can take upwards to a month to complete given that there are on problems.

A PAN Card Verification through PAN Number can only be performed by an authorized, registered company, organization or agency that is paid up to date and their account is in good standing. This process requires the verifier to have a Digital Signature Certificate. In addition, there are three different types of accounts, all of which allow for up to 750 verifications per day.

When you submit an application for a PAN online, you can submit a PAN Card enquiry on the status of your application by using the Government’s PAN Card status enquiry India website form. This form requires you to have your 15-digit acknowledgement number in order to access data.

August 24, 2012August 24, 2012

India Against Corruption

When searching corruption on Google, the results are littered with information about India against corruption. On initial assumptions one might posit that India is riddled with corruption and they would not be wrong in assuming that. The fact is corruption is everywhere, in every nation on earth. The fact that you see so much information on corruption in India is not because India is a cesspool of corruption but because India is at the forefront of anti-corruption.

In India, an India against corruption is a slogan. The Indian society is armed and has taken up against corruption. With the advent of technological advances in communications and electronics, we have seen it easier to expose corruption and market that information.

The Internet is a prime example. The Internet has given power to a powerless segment of society and allowed them, with a bit of hard work, to take matters into their own hands and do something about it. You can give information, organize and discuss, in a low-cost effective medium, strategies to not only combat corruption but compiles realistic statistics on the actually corruption level.

Advancements in electronics and communications impact many different industries. Surveillance equipment invariably benefits from these advancements. Microphone and video qualities in situations that used to be difficult, dark situations or loud environments are not an issue any more. In addition, the sizes of these devices have gotten smaller and changes to materials used in the construction of equipment have modified designs.

Capturing a corrupt activity as evidence to fuel sanction and prosecution is easier now. In the past, physical evidence of corrupt acts was rare and only for the privileged and this contributed to a virtual black out of corruption based convictions. This evidence is also acting as a demotivation for corruptors for future corrupt acts.

A real benefit of a comingling of empowerment and technology in the fight against corruption, as seen in India, is the advent of creative measures to document, publicize and influence an aware society, of which corruptors are a part of. In India, there are websites like ipaidabribe.com that allow society to report instances of abuse. The incidents are investigated and any actions required from the results are taken.

India against corruption could very well stop corruption in its tracks as well as change the social perception of corruption in general. The world has a lot of learn from this era in India and, if successful, you might read in the next paragraph on corruption that an India against corruption organization will be working in your very country in the near future.

August 4, 2012August 4, 2012

Income Tax Slab for AY 12-13

The following are the details of the Income Tax Slab for AY 12-13. These figures were released by RDA & Associates on March 16 2012 and are verbatim.

Income Tax Slab for AY 12-13
New Income Tax Slabs for ay 12-13 for Resident Senior Citizens above 60 years (FY 2011-12)
S. No.	Income Range	Tax percentage
1	Up to Rs 2,50,000	No tax / exempt
2	2,50,001 to 5,00,000	10%
3	5,00,001 to 8,00,000	20%
4	Above 8,00,000	30%
New Income Tax Slabs for ay 12-13 for Resident Senior Citizens above 80 years (FY 2011-12)
1	Up to Rs 5,00,000	No tax / exempt
2	5,00,001 to 8,00,000	20%
3	Above 8,00,000	30%
Income Tax Slabs for ay 12-13 for Resident Women (below 60 years) (FY 2011-12)
1	Up to Rs 1,90,000	No tax / exempt
2	1,90,001 to 5,00,000	10%
3	5,00,001 to 8,00,000	20%
4	Above 8,00,000	30%
New Income Tax Slabs for ay 12-13 Others & Men (FY 2011-12)
1	Up to Rs 1,80,000	No tax / exempt
2	1,80,001 to 5,00,000	10%
3	5,00,001 to 8,00,000	20%
4	Above 8,00,000	30%

For normal category the simple calculation is as follows
Taxable Income in 10% slab maximum tax will be Rs 34000
Taxable Income in 20% slab maximum tax will be Rs 34000 + Rs 60000 total Rs 94000
Taxable Income in 30% slab minimum tax will be Rs 94000
Education and other cess will be in addition to this (RDA & Associates, 2012)

There are substantial tax concessions in this Income Tax Slab for AY 12-13, however, please keep in mind that as a taxpayer you are required to have a PAN card and on entering your PAN it and you are subject to PAN number verification also known as NSDL PAN Card Verification where by your number is verified to ensure your correct data and validity of your account.

Works Cited in this document:

BIBLIOGRAPHYRDA & Associates. (2012, April 29). INCOME TAX SLAB RATE APPLICABLE . Retrieved August 4, 2012, from RDA & Associates: http://rdaindia.com/inctaxfy1112.pdf

August 4, 2012August 4, 2012

Income Tax Slab for AY 11-12

The following are the details of the Income Tax Slab for AY 11-12. These figures were released by RDA & Associates on May 31 2010 and are verbatim.

Text version:

Income tax slab for ay 11-12
New Income Tax Slabs for ay 11-12 for Resident Senior Citizens 65 Plus (FY 2010-11)
S. No.	Income Range	Tax percentage
1	Up to Rs 2,40,000	No tax / exempt
2	2,40,001 to 5,00,000	10%
3	5,00,001 to 8,00,000	20%
4	Above 8,00,000	30%
Income Tax Slabs for ay 11-12 for Resident Women (below 65 years) (FY 2010-11)
1	Up to Rs 1,90,000	No tax / exempt
2	1,90,001 to 5,00,000	10%
3	5,00,001 to 8,00,00	20%
4	Above 8,00,000	30%
New Income Tax Slabs for ay 11-12 Others & Men (FY 2010-11)
1	Up to Rs 1,60,000	No tax / exempt
2	1,60,001 to 5,00,000	10%
3	5,00,001 to 8,00,000	20%
4	Above 8,00,000	30%

For normal category the simple calculation is as follows Taxable Income in 10% slab maximum tax will be Rs 34000 Taxable Income in 20% slab maximum tax will be Rs 34000 + Rs 60000 total Rs 94000 Taxable Income in 30% slab minimum tax will be Rs 94000 Education and other cess will be in addition to this (RDA & Associates, 2010).

There are substantial tax concessions and exemptions in the Income Tax Slab for AY 11-12. You are required to have a PAN and can only take advantages of these exemptions and concessions if your PAN account is in good standing order. In addition, you are subject to PAN number verification also known as NSDL PAN Card Verification where by your number is verified to ensure your correct data and validity of your account.

Works Cited in this document

BIBLIOGRAPHY RDA & Associates. (2010, May 31). Income Tax Rates/Slab for Assessment Year 2011-12 . Retrieved August 4, 2012, from RDA & Associates: http://rdaindia.com/inctaxfy1011.pdf