28 August 2007
one of my freind is a salaied employee and have a montly income of Rs 7300/-. he is interested in shares and want to open its dmat accounts for shares transactions. he is not apply for pan card. whether if he apply for pan card he is mandatory for apply for return. is every pan card holder is required ti file his return or not???????????????//
28 August 2007
no, not at all. He can always apply for PAN. Every PAN card holder is not required to file IT return unless he satisfies the relevant conditions. prima facie under the present circumstances he is not required to file IT return.
28 August 2007
The above reply is at par. Any person can apply for PAN whether he has any taxable income or not. He is required to file the return only if his taxable income exceeds the limit not chargeable to tax.
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