Sage-Tips

Can parents be representative assessee?

Parents, guardians or a representative assessee has to apply on her behalf. The form to use is form 49A (which is the same one that adults also have to use). This has to be submitted along with identity proofs of the father or guardian; they will have to sign the form as well.

Is representative assessee mandatory for minor PAN application?

Under section 160 of Income Tax Act, 1961, a guardian/ manager of a minor is known as his/her Representative Assessee. All the particulars of the Representative Assessee must be filled in the application form. This field is mandatory if applicant is minor.

Can non Assessee have a PAN?

Every non-individual resident persons and person associated with them if the financial transaction entered into by such non-individual resident persons during a financial year exceeds Rs. 2,50,000. A person not covered in any of the above can voluntarily apply for PAN.

Who is called assessee?

An income tax assessee is a person who pays tax or any sum of money under the provisions of the Income Tax Act, 1961. The term ‘assessee’ covers everyone who has been assessed for his income, the income of another person for which he is assessable, or the profit and loss he has sustained.

What is representative assessee in pan card Quora?

Representative assessee : If an income tax return is filed by someone else other than assessee himself then that person is called Representative Assessee.

Is Karta a representative assessee of HUF?

The remuneration received by Karta as representative of HUF cannot be treated as income of the HUF. Remuneration will be income of HUF only when there is direct nexus between family funds and remuneration paid.

Is representative assessee mandatory?

Name and address of Representative Assessee This field is mandatory if applicant is minor, deceased, idiot, lunatic or mentally retarded. Column 1 to 13 will contain details of person on whose behalf this application is submitted. Proof of Identity and Proof of address is also required for representative assessee.

What is the Bengali meaning of representative assessee?

Definition in Bangla: একটি ব্যক্তির (বা সম্পত্তি) যার মূল্যায়ন করা হয়

How can find PAN name from Assessee?

Then select challan 280. Fill in the PAN and other details u can fill anything, later click on proceed. Once u click proceed, full name of the assessee will be displayed for confirmation.

Who is responsible for allotment of PAN?

PAN should be obtained by: Every person if his total income or the total income of any other person in respect of which he is assessable during the previous year exceeds the maximum amount which is not chargeable to tax. A charitable trust who is required to furnish return under Section 139(4A).

Who is an assessee answer?

An assessee is any individual who is liable to pay taxes to the government against any kind of income earned or any losses incurred by him for a particular assessment year. Each and every person who has been taxed in the previous years for income earned by him is treated as an Assessee under the Income Tax Act, 1961.

Who is assessee and assessor?

is that assessee is something or someone that is assessed while assessor is one who assesses a property for tax or insurance evaluation.