What is compliance with Section 139A(5)(c) of the Income Tax Act
PRABHAKAR LAL (164 Points)
30 September 2021
What is compliance with Section 139A(5)(c) of the Income Tax Act
9 Replies
renu indani
(student)
(22 Points)
Replied 30 September 2021
Is Quoting the pan of both seller and customer is mandatory ,if the transaction amount exceeds ₹200000/- ??
Rama chary Rachakonda
(Master in Accounts & Lawyer email ID:ramachary64@gmail.com voice no:9989324294)
(5128 Points)
Replied 30 September 2021
it is hereby declared that any person, who has been allotted a permanent account number under any clause other than clause (iv) of sub-section (1), shall not be required to obtain another permanent account number and the permanent account number already allotted to him shall be deemed to be .
Bharti Jain
(2 Points)
Replied 30 September 2021
In compliance with Section 139A(5)(c) of the Income Tax act all the sellers raising an invoice of INRs 2,00,000/- or more should display the 10-digit PAN number (of both vendor as well as a customer) on each such invoice as a separate field. This is with effect from 1st October 2021.
In addition to GST number, you have to separately display your as well as your customer's PAN number.
Binod Kumar
(Manager Accounts)
(26 Points)
Replied 01 October 2021
In compliance with Section 139A(5)(c) of the Income Tax act all the sellers raising an invoice of INRs 2,00,000/- or more should display the 10 digit PAN number (of both vendor as well as a customer) on each such invoice as a separate field.
This is with effect from 1st October 2021
In other words, in addition to GST number, you have to separately display your as well as your customers PAN number.
Dharmender kumar Jha
(Accountant)
(208 Points)
Replied 01 October 2021
Where is the notification related it...?
pls anyone if have provide it ...
becoz as per my knowledge its w.e.f from 2016
https://pib.gov.in/newsite/printrelease.aspx?relid=133304
than why so much shor in 2021
pls anyone if have provide it ...
becoz as per my knowledge its w.e.f from 2016
https://pib.gov.in/newsite/printrelease.aspx?relid=133304
than why so much shor in 2021
DIKSHA
(Student CA Final )
(22 Points)
Replied 02 October 2021
There is no such circular or new clause addition . Quoting of PAN has already been mentioned in Rule 11UB.
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