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THE INCOME TAX ACT, 2025
Section 262 of Income Tax Act - Pe...
Section 263 of Income Tax Act - Re... Section 264 of Income Tax Act - Sc... Section 265 of Income Tax Act - Re... Section 266 of Income Tax Act - Se... Section 267 of Income Tax Act - Ta... Section 268 of Income Tax Act - In... Section 269 of Income Tax Act - Es... Section 270 of Income Tax Act - As... Section 271 of Income Tax Act - Be... Section 272 of Income Tax Act - Po... Section 273 of Income Tax Act - Fa... Section 274 of Income Tax Act - Re... Section 275 of Income Tax Act - Re... Section 276 of Income Tax Act - Me... Section 277 of Income Tax Act - Me... Section 278 of Income Tax Act - Ta... Section 279 of Income Tax Act - In... Section 280 of Income Tax Act - Is... Section 281 of Income Tax Act - Pr... Section 282 of Income Tax Act - Ti... Section 283 of Income Tax Act - Pr... Section 284 of Income Tax Act - Sa... Section 285 of Income Tax Act - O... Section 286 of Income Tax Act - Ti... Section 287 of Income Tax Act - Re... Section 288 of Income Tax Act - Ot... Section 289 of Income Tax Act - No... Section 290 of Income Tax Act - Mo... Section 291 of Income Tax Act - I... Section 292 of Income Tax Act - As... Section 293 of Income Tax Act - Co... Section 294 of Income Tax Act - Pr... Section 295 of Income Tax Act - Un... Section 296 of Income Tax Act - Ti... Section 297 of Income Tax Act - Ce... Section 298 of Income Tax Act - Le... Section 299 of Income Tax Act - Au... Section 300 of Income Tax Act - Ap... Section 301 of Income Tax Act - In... Section 302 of Income Tax Act - Le... Section 303 of Income Tax Act - Re... Section 304 of Income Tax Act - Li... Section 305 of Income Tax Act - Ri... Section 306 of Income Tax Act - Wh... Section 307 of Income Tax Act - Ch... Section 308 of Income Tax Act - Ch... Section 309 of Income Tax Act - Me... Section 310 of Income Tax Act - Sh... Section 311 of Income Tax Act - Ch... Section 312 of Income Tax Act - Ex... Section 313 of Income Tax Act - Su... Section 314 of Income Tax Act - Ef... Section 315 of Income Tax Act - As... Section 316 of Income Tax Act - Sh... Section 317 of Income Tax Act - As... Section 318 of Income Tax Act - As... Section 319 of Income Tax Act - As... Section 320 of Income Tax Act - Di... Section 321 of Income Tax Act - As... Section 322 of Income Tax Act - Co... Section 323 of Income Tax Act - Li... Section 324 of Income Tax Act - Ch... Section 325 of Income Tax Act - As... Section 326 - Assessment when sect... Section 327 - Change in constituti... Section 328 - Succession of one fi... Section 329 - Joint and several li... Section 330 - Firm dissolved or bu... Section 331 - Liability of partner... Section 332 - Application for regi... Section 333 - Switching over of re... Section 334 - Tax on income of reg... Section 335 - Regular income... Section 336 - Taxable regular inco... Section 337 - Specified income... Section 338 - Income not to be inc... Section 339 - Corpus donation... Section 340 - Deemed corpus donati... Section 341 - Application of incom... Section 342 - Accumulated income... Section 343 - Deemed accumulated i... Section 344 - Business undertaking... Section 345 - Restriction on comme... Section 346 - Restriction on comme... Section 347 - Books of account... Section 348 - Audit... Section 349 - Return of income... Section 350 - Permitted modes of i... Section 351 - Specified violation... Section 352 - Tax on accreted inco... Section 353 - Other violations... Section 354 - Application for appr... Section 355 - Interpretation... Section 356 - Appealable orders be... Section 357 - Appealable orders be... Section 358 - Form of appeal and l... Section 359 - Procedure in appeal... Section 360 - Powers of Joint Comm... Section 361 - Appellate Tribunal... Section 362 - Appeals to Appellate... Section 363 - Orders of Appellate ... Section 364 - Procedure of Appella... Section 365 - Appeal to High Court... Section 366 - Case before High Cou... Section 367 - Appeal to Supreme Co... Section 368 - Hearing before Supre... Section 369 - Tax to be paid irres... Section 370 - Execution for costs ... Section 371 - Amendment of assessm... Section 372 - Exclusion of time ta... Section 373 - Filing of appeal by ... ... Section 375 - Procedure when asses... Section 376 - Procedure where an i... Section 377 - Revision of orders p... Section 378 - Revision of other or... Section 379 - Dispute Resolution C... Section 380 - Interpretation... Section 381 - Board for Advance Ru... Section 382 - Vacancies, etc, not ... Section 383 - Application for adva... Section 384 - Procedure on receipt... Section 385 - Appellate authority ... Section 386 - Advance ruling to be... Section 387 - Powers of the Board ... Section 388 - Procedure of Board f... Section 389 - Appeal... Section 390 - Deduction or collect... Section 391 - Direct payment... Section 392 - Salary and accumulat... Section 393 - Tax to be deducted a... Section 394 - Collection of tax at... Section 395 - Certificates... Section 396 - Tax deducted is inco... Section 397 - Compliance and repor... Section 398 - Consequences of fail... Section 399 - Processing... Section 400 - Power of Central Gov... Section 401 - Bar against direct d... Section 402 - Interpretation... Section 403 - Liability for paymen... Section 404 - Conditions of liabil... Section 405 - Computation of advan... Section 406 - Payment of advance t... Section 407 - Payment of advance t... Section 408 - Instalments of advan... Section 409 - When assessee is dee... Section 410 - Credit for advance t... Section 411 - When tax payable and... Section 412 - Penalty payable when... Section 413 - Certificate by Tax R... Section 414 - Tax Recovery Officer... Section 415 - Stay of proceedings ... Section 416 - Other modes of recov... Section 417 - Recovery through Sta... Section 418 - Recovery of tax in p... Section 419 - Recovery of penaltie... Section 420 - Tax clearance certif... Section 421 of Income Tax Act - Re... Section 422 of Income Tax Act - Re... Section 423 of Income Tax Act - In... Section 424 of Income Tax Act - In... Section 425 of Income Tax Act - In... Section 426 of Income Tax Act - In... Section 427 of Income Tax Act - Fe... Section 428 of Income Tax Act - Fe... Section 429 of Income Tax Act - Fe... Section 430 of Income Tax Act - Fe... Section 431 of Income Tax Act - Re... Section 432 of Income Tax Act - Pe... Section 433 of Income Tax Act - Fo... Section 434 of Income Tax Act - Re... Section 435 of Income Tax Act - Re... Section 436 of Income Tax Act - Co... Section 437 of Income Tax Act - In... Section 438 of Income Tax Act - Se... Section 439 of Income Tax Act - Pe... Section 440 of Income Tax Act - Im... Section 441 of Income Tax Act - Fa... Section 442 of Income Tax Act - Pe... Section 443 of Income Tax Act - Pe... Section 444 of Income Tax Act - Pe... Section 445 of Income Tax Act - Be... Section 446 of Income Tax Act - Fa... Section 447 of Income Tax Act - Pe... 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Section 474 of Income Tax Act - Fa... Section 475 of Income Tax Act - Re... Section 476 of Income Tax Act - Fa... Section 477 of Income Tax Act - Fa... Section 478 of Income Tax Act - Wi... Section 479 of Income Tax Act - Fa... Section 480 of Income Tax Act - Fa... Section 481 of Income Tax Act - Fa... Section 482 of Income Tax Act - Fa... Section 483 of Income Tax Act - Fa... Section 484 of Income Tax Act - Ab... Section 485 of Income Tax Act - Pu... Section 486 of Income Tax Act - Pu... Section 487 of Income Tax Act - Of... Section 488 of Income Tax Act - Of... Section 489 of Income Tax Act - Pr... Section 490 of Income Tax Act - Pr... Section 491 of Income Tax Act - Pr... Section 492 of Income Tax Act - Ce... Section 493 of Income Tax Act - Pr... Section 494 of Income Tax Act - Di... Section 495 of Income Tax Act - Sp... Section 496 of Income Tax Act - Of... Section 497 of Income Tax Act - Tr... Section 498 of Income Tax Act - Ap... Section 499 of Income Tax Act - Ce... Section 500 of Income Tax Act - Pr... Section 501 of Income Tax Act - Se... Section 502 of Income Tax Act - Au... Section 502 of Income Tax Act - Au... Section 503 of Income Tax Act - Se... Section 504 of Income Tax Act - Se... Section 505 of Income Tax Act - Su... Section 506 of Income Tax Act - Fu... Section 507 of Income Tax Act - Su... Section 508 of Income Tax Act - Ob... Section 509 of Income Tax Act - Ob... Section 510 of Income Tax Act - An... Section 511 of Income Tax Act - Fu... Section 512 of Income Tax Act - Pu... Section 513 of Income Tax Act - Ap... Section 514 of Income Tax Act - Re... Section 515 of Income Tax Act - Ap... Section 516 of Income Tax Act - Ro... Section 517 of Income Tax Act - Re... Section 518 of Income Tax Act - In... Section 519 of Income Tax Act - Po... Section 520 of Income Tax Act - Co... Section 521 of Income Tax Act - Pr... Section 522 of Income Tax Act - Re... Section 523 of Income Tax Act - No... Section 524 of Income Tax Act - Pr... Section 525 of Income Tax Act - Au... Section 526 of Income Tax Act - Ba... Section 527 of Income Tax Act - Po... Section 528 of Income Tax Act - Po... Section 529 of Income Tax Act - Po... Section 530 of Income Tax Act - Ac... Section 531 of Income Tax Act - Po... Section 532 of Income Tax Act - Po... Section 533 of Income Tax Act - Po... Section 534 of Income Tax Act - La... Section 535 of Income Tax Act - Re... Section 536 of Income Tax Act - Re... SCHEDULE I of Income Tax Act - CON... SCHEDULE II of Income Tax Act - IN... SCHEDULE III of Income Tax Act - I... SCHEDULE IV of Income Tax Act - IN... SCHEDULE V of Income Tax Act - INC... SCHEDULE VI of Income Tax Act - IN... SCHEDULE VII of Income Tax Act - P... SCHEDULE VIII of Income Tax Act - ... SCHEDULE IX of Income Tax Act - DE... SCHEDULE X of Income Tax Act - DED... SCHEDULE XI of Income Tax Act... SCHEDULE XII of Income Tax Act... SCHEDULE XIII of Income Tax Act -... SCHEDULE XIV of Income Tax Act - L... SCHEDULE XV of Income Tax Act - DE... SCHEDULE XVI of Income Tax Act - P...Section 262 of Income Tax Act - Permanent Account Number
CHAPTER XV
RETURN OF INCOME
A.—Allotment of Permanent Account Number
262. Permanent Account Number.
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(1) Every person who has not been allotted a Permanent Account Number shall, within such time as may be prescribed, apply to the Assessing Officer for its allotment if he fulfils any of the following conditions:— (a) his total income or the total income of any other person for which he is assessable under this Act during any tax year exceeded the maximum amount not chargeable to income-tax; or (b) he is carrying on any business or profession whose total sales, turnover or gross receipts are or is likely to exceed ₹ 500000 in any tax year; or (c) he is required to furnish a return of income under section 263 for any tax year; (d) he is a resident, other than an individual, which enters into a financial transaction aggregating to ₹ 250000 or more in a tax year; or (e) he is the managing director, director, partner, trustee, author, founder, karta, chief executive officer, principal officer or office bearer of the person referred to in clause (d) or any person competent to act on behalf of the person referred to in clause (d); or (f) he intends to enter into such transaction as may be prescribed by the Board in the interest of revenue. |
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(2) Any person, not covered under sub-section (1) may apply to the Assessing Officer for the allotment of a Permanent Account Number after which the Assessing Officer shall allot a Permanent Account Number to such person. |
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(3) Every person shall quote Permanent Account Number in all his returns to, or correspondence with, any income-tax authority and in all challans for the payment of any sum due under this Act. |
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(4) Every person shall intimate the Assessing Officer of any change in his address or in the name and nature of his business on the basis of which the Permanent Account Number was allotted to him. |
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(5) Every person who is eligible to obtain Aadhaar number shall quote such number in the application form for allotment of Permanent Account Number and in the return of income. |
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(6) (a) For the cases other than sub-section (5), every person who has been allotted Permanent Account Number and who is eligible to obtain Aadhaar number, shall intimate his Aadhaar number to the prescribed income-tax authority in such form and manner, as may be prescribed; (b) if a person fails to intimate his Aadhaar number as per clause (a), the Permanent Account Number allotted to that person shall be made inoperative in such manner as may be prescribed. |
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(7) Every person who is required to furnish or intimate or quote his Permanent Account Number under this Act, and who— (a) has not been allotted a Permanent Account Number but possesses the Aadhaar number, may furnish or intimate or quote his Aadhaar number in lieu of the Permanent Account Number, and such person shall be allotted a Permanent Account Number in the manner, as may be prescribed; (b) has been allotted a Permanent Account Number, and who has intimated his Aadhaar number as per sub-section (6) may furnish or intimate or quote his Aadhaar number in lieu of the Permanent Account Number. |
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(8) A person who has already been allotted a Permanent Account Number cannot apply, obtain or possess another Permanent Account Number. |
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(9) (a) Every person entering into such transaction, as may be prescribed, shall quote his Permanent Account Number or Aadhaar number, in the documents pertaining to such transactions and also authenticate such Permanent Account Number or Aadhaar number, in the manner, as may be prescribed; (b) every person receiving any document relating to the transactions referred to in clause (a), shall ensure that Permanent Account Number or Aadhaar number, has been duly quoted in such document and that such Permanent Account Number or Aadhaar number is authenticated as may be prescribed. |
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(10) The Board may make rules providing for— (a) the form, manner and time in which an application may be made for the allotment of Permanent Account Number and the particulars which such application shall contain; (b) class or classes of persons who shall be required to apply for allotment of Permanent Account Number; (c) categories of documents pertaining to business or profession in which Permanent Account Number shall be quoted by every person; (d) the form and manner in which the person who has not been allotted a Permanent Account Number shall make his declaration; (e) manner of authentication of Permanent Account Number or Aadhaar number; (f) class or classes of persons to whom the provisions of this section shall not apply having regard to the transactions or the circumstances. |
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(11) (a) The Central Government may, by notification, specify any class or classes of persons who shall apply to the Assessing Officer for the allotment of Permanent Account Number within such time as mentioned in such notification; (b) the class or classes of persons in clause (a) may include such persons– (i) by whom tax is payable under this Act; or (ii) by whom any tax or duty is payable under any other law in force; or (iii) being importers and exporters, even when no tax is payable by them. |
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(12) The provisions of sub-sections (5) and (6) shall not apply to such person or class or classes of persons or any State or part of any State, as may be notified by the Central Government. |
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(13) For the purposes of this section,— (a) “Aadhaar number” shall have the same meaning as assigned to it in section 2(a) of the Aadhaar (Targeted Delivery of Financial and Other Subsidies, Benefits and Services) Act, 2016; (b) “Assessing Officer” includes an income-tax authority who is assigned the duty of allotting Permanent Account Number; (c) “authentication” means the process by which the Permanent Account Number or Aadhaar number along with demographic information or biometric information of an individual is submitted to the income-tax authority or such other authority or agency as may be prescribed for its verification and such authority or agency verifies the correctness, or the lack thereof, on the basis of information available with it. |
GST Gyaan | https://gstgyaan.in | CA Rajesh Ritolia - 9350171263