Getting a PAN made stricter

VRISHTI BENIWAL New Delhi, 24 January It will not be easy to get a Permanent Account Number (PAN) now, as the Income Tax (I- T) department on Friday put more conditions for applicants in a bid to crack down on fraudsters. “The procedure for PAN allotment will undergo a change from February 3. Every applicant will have to submit self- attested copies of proof of identity, address and date of birth documents and also produce original documents for verification,” the Central Board of Direct Taxes ( CBDT) said on Friday. It said the original documents would be returned after verifying the self- attested copies attached with the application form received at the PAN facilitation centre. An official said the decision was taken after the department noticed a lot of cases where people were giving false information in the application to get a duplicate PAN in some cases and to get the card even when they were not eligible for it in other cases. About 1.4 million new PAN cards are issued every year by the department, which is able to verify details of only 0.2 per cent applicants. Experts said the department’s intention behind the move was to check mala fide cases but it would cause problems for genuine applicants. “The department is asking for self attested as well as original documents ( for verification only), to be 100 per cent sure about their veracity. But this will make it more difficult to obtain PAN, particularly for foreigners. People might not be comfortable sharing original documents with consultants. There are practical challenges which might unfold in the coming days and we hope for more clarity,” said Amarpal Chadha, tax partner, EY. The official agreed it might cause discomfort to some people but the intention was to make the system foolproof. CBDT had found some foreign nationals were using PAN as proof of identity. In most of these cases, a fake certificate of identity and address signed by a Member of Parliament was issued. By I- T Rules, a depository account statement, bank account statement/ passbook, ration card, passport, voter identity card, driving licence, property tax assessment order and a certificate signed by a Member of Parliament or a Member of Legislative Assembly or municipal councillor or a gazetted officer are accepted as proof of identity as well as address. Currently, about 140 million people have a PAN card in India, while only 34 million of them file their income tax returns. Many people who don’t file returns, get a PAN as it works as an identity proof at many places. Of the total PAN allotment, 96 per cent are under the category of ‘ Individual’ applicants and the highest fake/ duplicates are also observed under this category. In March 2011, after finding ahuge mismatch between the number of PAN holders and the number of tax return filings, the Comptroller & Auditor General had asked the I- T department to ensure that asingle taxpayer was not issued multiple cards. I- T dept wants original ID proof; experts warn of practical challenges

TIME TABLE FOR CS JUNE 2014 EXAMINATION

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INSTITUTE FOR CORPORATE ACHIEVERS: NEW BATCH FOR CS FOUNDATION AND EXECUTIVE

INSTITUTE FOR CORPORATE ACHIEVERS: NEW BATCH FOR CS FOUNDATION AND EXECUTIVE: FOUNDATION SUBJECT                                                         FACULTY ACCOUNTS                                         ...

NEW BATCH FOR CS FOUNDATION AND EXECUTIVE

FOUNDATION

SUBJECT                                                         FACULTY
ACCOUNTS                                          CA ALOK
LAW                                                      CS NIDHI
ECONOMICS                                        CS SONAM
BUSINESS COMMUNICATION            MRS. HIMANI KAPOOR, MBA

                                                                    EXECUTIVEMODULE -I
SUBJECT                                                         FACULTY
TAX LAWS                                             CA SAMEER NIGAM/CA ALOK GUPTA
COMPANY LAW-                                   CS ALOK/CS NIDHI
COST ACCOUNTS                               CMA VSU
ECONOMIC & COMMERCIAL LAWS  CS VERTIKA SRIVASTAVA/CS MEENAKSHI SRIVASTAVA

MODULE -II
SUBJECT                                                          FACULTY
SECURITIES LAW                                CS SONAM KESARWANI
COMPANY ACCOUNTS-                      CA MAURIKA SRIVASTAVA

INDUSTRIAL LAW                                 CS VERTIKA SRIVASTAVA

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GUIDELINES FOR GRANTING PAPER WISE EXEMPTION

            MODIFICATION IN GUIDELINES FOR GRANTING PAPER WISE EXEMPTION ON THE BASIS OF
This is to inform that the Council of Institute has modified the criteria for granting paper-wise exemptions to CS students on the basis of their higher qualifications as per details given below : 

1. Paper 7 of Executive Programme (i.e. Industrial, Labour and General Laws) shall be exempted for LL.B. passed Students (Both three Year Degree Course and Five Year integrated Law Course); 

2. The exemption under reciprocal arrangement with Institute of Cost Accountants of India will continue. i.e. following papers shall be exempted to Final examination passed student of the Institute of Cost Accountant of India : 

•••>> CS Executive Programme : 
i) Cost and Management Accounting ( Module1, Paper2) 
ii) Tax Laws and Practices ( Module 1, Paper 4 ) 
iii) Company Accounts and Auditing Practices ( Module 2, Paper 5 ) 

•••>> CS Professional Programme : 
i) Advanced Company Law and Practice ( Module 1, Paper 1 ) 
ii) Financial, Treasury and Forex Management (Module 2, Paper 5 ) 
iii) Advanced Tax Laws and Practice ( Module 3, Paper 7 ) 

3. No exemption shall be given on the basis of any other higher 
education. 

The above modified guidelines shall be applicable w.e.f. 1st December 2013. 

In case you need any further information / clarification in the matter, please contact Mr. A K Srivastava, Deputy Director (Student Services) at E-Mail Id ashvini.srivastava@icsi.edu or at Tel No. 0120-4522083 / or Ms. S Hemamalini, Administrative Officer at E-Mail Id exemption@icsi.edu or at Tel.No. 0120-4522074. 

Issued as per decision of the council of the Institute of Company Secretaries of India. 

(Sohan Lal) 
Director (Student Services)
ICSI (Institute of Company Secretaries of India)

NEW BATCH FOR CS FOUNDATION/EXECUTIVE/PROFESSIONAL

FOUNDATION
SUBJECT                                                         FACULTY
ACCOUNTS                                            CA ALOK
LAW                                                         CS NIDHI
ECONOMICS                                          CS SONAM
BUSINESS COMMUNICATION            HIMANI KAPOOR, MBA


MODULE -I
SUBJECT                                                         FACULTY
TAX LAWS                                              CA SAMEER NIGAM
COMPANY LAW-                                   CS ALOK/CS NIDHI
COST ACCOUNTS                                 CMA VSU
ECONOMIC & COMMERCIAL LAWS  CS VERTIKA SRIVASTAVA

MODULE -II
SUBJECT                                                          FACULTY
SECURITIES LAW                                   CS SONAM KESARWANI
COMPANY ACCOUNTS-                      CA MAURIKA SRIVASTAVA

INDUSTRIAL LAW                                  CS VERTIKA SRIVASTAVA