Author: Mohan

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How do I send money from my bank card to someone else’s PayPal account?

To send money from your bank card to someone else’s PayPal account, follow these steps:

  • Log in to your PayPal account.
  • Click on the “Send & Request” option in the top menu.
  • Enter the recipient’s email address or mobile number.
  • Enter the amount you wish to send.
  • Select the option to pay with a debit or credit card.
  • Enter the card information, including the card number, expiration date, and security code.
  • Review the details and click “Send Now.”

Note: If you’re paying with a debit or credit card that’s not linked to your PayPal account, a fee may apply. The recipient will receive the funds in their PayPal account, which they can then withdraw to their bank account.

Paypal Account is safe?

PayPal is generally considered safe for buyers, as the site offers robust security measures to protect their financial information. Some of the security features offered by PayPal include:

  • Encryption: PayPal uses industry-standard SSL encryption to protect the transmission of sensitive data.
  • Fraud protection: PayPal provides a number of fraud protection services, including automatic fraud screening and 24/7 monitoring.
  • Buyer protection: If a buyer doesn’t receive the item they purchased, or if it’s significantly different from the seller’s description, PayPal may refund the buyer’s money.

That being said, no online platform is completely immune to security risks, so it’s important for users to take steps to protect their own information, such as using strong passwords and not sharing their PayPal login information with anyone.

In general, as long as you take the necessary precautions, PayPal can be a safe and convenient way to send and receive money online.

To register in PayPal what are the documents required

To register for a PayPal account, you will need to provide the following information:

  • Email address: A valid email address is required to receive account updates and notifications.
  • Password: Create a strong password to protect your account.
  • Personal information: This includes your full name, address, and phone number.
  • Financial information: To link a bank account or credit card to your PayPal account, you will need to provide the relevant information for the account you wish to link.

In most cases, PayPal does not require additional documentation to open an account. However, in some cases, PayPal may ask for additional information or documentation to verify your identity or comply with regulatory requirements.

In such cases, you may be asked to provide a government-issued ID, such as a passport or driver’s license, or a recent utility bill to verify your address. In some instances, PayPal may also ask for a photo of yourself or your ID to confirm your identity.

To register in PayPal what are the documents required in India

To register for a PayPal account in India, you will need the following information:

  • Email address: A valid email address is required to receive account updates and notifications.
  • Password: Create a strong password to protect your account.
  • Personal information: This includes your full name, address, and phone number.
  • Financial information: To link a bank account or credit card to your PayPal account, you will need to provide the relevant information for the account you wish to link.

In addition to the above, PayPal may also require you to provide additional information or documentation to verify your identity and comply with regulatory requirements in India.

In such cases, you may be asked to provide:

  • PAN (Permanent Account Number) card: This is a unique 10-digit alphanumeric identifier issued by the Indian government.
  • Bank account information: To link a bank account to your PayPal account, you will need to provide the account number and IFSC code of your bank.

In some cases, PayPal may also ask for a photo of your PAN cards or other government-issued ids, such as a passport or driver’s license, to confirm your identity.

What is 234F of income tax?

Section 234F of the Income Tax Act, 1961, is a provision that imposes a penalty for late filing of income tax returns (ITR). The provisions of this section came into effect from the financial year 2016-17 onwards.

According to Section 234F, if an individual fails to file their ITR within the due date (usually July 31st of the assessment year), they may be required to pay a penalty. The amount of the penalty is:

  • Rs. 5,000, if the ITR is filed before December 31st of the assessment year.
  • Rs. 10,000, if the ITR is filed after December 31st but before March 31st of the assessment year.
  • Rs. 1,000 per day for each day of delay, if the ITR is filed after March 31st of the assessment year.

However, if the total income of the individual for the relevant financial year does not exceed Rs. 5 lakhs, the maximum penalty will be Rs. 1,000.

It is important to note that the provisions of Section 234F are applicable only to individuals who are required to file an ITR, and not to those who are exempt from filing due to their low-income levels

Demat account in India – How it works- Pan Card Apply Online

A Demat account is a type of account in India that holds securities such as shares, bonds, and government securities in an electronic, or dematerialized, format rather than in physical form.

It is used for trading in the stock market and provides a convenient and safe way for investors to keep track of their investments.

What is the use of the Demat account?

A Demat account is used for holding securities in electronic form, making it easier for investors to buy and sell shares, bonds, and other securities. Some benefits of using a Demat account include:

  • Convenience: Transactions can be executed quickly and easily without the need for physical certificates.
  • Safety: Electronic holdings are less prone to loss, theft, or damage compared to physical certificates.
  • Real-time access: Investors can access their Demat account online and view their holdings and transactions in real-time.
  • Lower costs: Demat eliminates the need for physical certificates and transfer stamps, reducing costs associated with trading.
  • Easy transfer: Securities can be easily transferred between Demat accounts, making it easier to manage investments.
  • Facilitation of trading: A Demat account is mandatory for trading in the stock market and facilitates the process of buying and selling securities.
What are the things we can do with the Demat account?

With a Demat account, you can do the following:

  • Buy and sell securities: You can use your Demat account to buy and sell shares, bonds, and other securities in the stock market.
  • Monitor your holdings: You can monitor your securities holdings in real time through your Demat account.
  • Transfer securities: You can transfer securities between Demat accounts, making it easier to manage your investments.
  • Receive corporate benefits: You can receive corporate benefits such as dividends, rights issues, and bonus shares directly into your Demat account.
  • Avail loans: You can use your securities holdings as collateral to avail of loans from banks and financial institutions.
  • Participate in IPOs: You can participate in Initial Public Offerings (IPOs) by applying through your Demat account.
  • Manage multiple accounts: If you have multiple Demat accounts, you can manage all of them from a single login.
  • Convenient reporting: Demat accounts provide detailed transaction statements, making it easier to track your investments and tax liability.
How does it work in India?

In India, a Demat account works as follows:

  • Opening an account: To open a Demat account, you need to approach a Depository Participant (DP) registered with National Securities Depository Limited (NSDL) or Central Depository Services Limited (CDSL). You will need to provide KYC (Know Your Customer) details, PAN (Permanent Account Number) and other required documents to open the account.
  • Buying securities: To buy securities, you need to place an order through your DP, who will execute the trade on your behalf. The securities will then be credited to your Demat account.
  • Selling securities: To sell securities, you need to place a sell order through your DP, who will execute the trade on your behalf. The securities will then be debited from your Demat account.
  • Holding securities: Your securities holdings are held electronically in your Demat account and can be viewed online.
  • Transferring securities: To transfer securities between Demat accounts, you need to initiate a transfer request through your DP. The securities will be transferred from your Demat account to the recipient’s Demat account.
  • Receiving corporate benefits: Corporate benefits such as dividends, rights issues, and bonus shares will be credited directly to your Demat account.
  • Closing an account: You can close your Demat account by submitting a request to your DP. The securities in your Demat account will be transferred to a new Demat account or to a physical certificate, as per your instructions.
How to open a Demat account in India?

To open a Demat account in India, you need to follow the steps below:

  • Choose a Depository Participant (DP): You need to approach a DP registered with either National Securities Depository Limited (NSDL) or Central Depository Services Limited (CDSL) to open a Demat account.
  • Fill out the application form: You will need to fill out an application form and provide personal and financial details, as well as PAN (Permanent Account Number) and KYC (Know Your Customer) documents.
  • Submit required documents: You need to submit identity proof, address proof, and PAN card, along with the filled-out application form, to the DP.
  • Account activation: Once your DP receives the filled-out form and required documents, they will activate your account and provide you with a user ID and password.
  • Link your bank account: You need to link a bank account to your Demat account to enable online transactions.
  • Start trading: Once your Demat account is activated, you can start buying and selling securities through your DP.

Note: The process and required documents may vary depending on the DP you choose. It’s advisable to check with the DP beforehand to ensure that you have all the necessary information and documents.

Top Demat account broker in India

There are many Demat account providers in India, and choosing the best one for your needs can be a challenge. Some of the top Demat account brokers in India are:

  1. Zerodha: Zerodha is one of the largest online brokers in India and offers a user-friendly Demat account with low brokerage fees.
  2. ICICI Direct: ICICI Direct is a subsidiary of ICICI Bank and is one of the largest players in the Indian securities market.
  3. HDFC Securities: HDFC Securities is a subsidiary of HDFC Bank and is known for its high-quality customer service and extensive product offerings.
  4. Kotak Securities: Kotak Securities is a subsidiary of Kotak Mahindra Bank and offers a range of investment options, including Demat accounts.
  5. Angel Broking: Angel Broking is one of the largest independent full-service retail broking houses in India.
  6. Sharekhan: Sharekhan is one of the largest online brokers in India and offers a range of investment options, including Demat accounts.

These are some of the top Demat account brokers in India. You may want to consider factors such as fees, customer service, investment options, and ease of use when choosing a Demat account provider that’s right for you.

Can I apply for an IPO multiple times with the same PAN card?

Yes, you can apply for an Initial Public Offer (IPO) multiple times with the same PAN card. However, there is a limit on the number of applications that you can make using a single PAN number.

The regulator, SEBI (Securities and Exchange Board of India), has set a limit of up to 5 applications per PAN per IPO. This limit is in place to prevent multiple applications for the same IPO and to ensure a fair and transparent allotment of shares.

If you wish to apply for more than 5 applications, you must use a different PAN number for each additional application. It’s important to note that the allotment of shares in an IPO is done randomly, and multiple applications do not guarantee a higher allocation of shares.

Why PAN Card is for an IPO?

A PAN (Permanent Account Number) card is required for an IPO (Initial Public Offer) in India for the following reasons:

  • KYC Compliance: PAN card is an important identity document and is used to verify the identity of the investor. This is in line with the government’s Know Your Customer (KYC) norms, which require financial institutions to obtain certain personal information from their clients to help combat money laundering and other financial crimes.
  • Taxation Purposes: PAN card is also used for taxation purposes, as it serves as a unique identifier for tax purposes. Any gains from the sale of shares acquired through an IPO are considered taxable income and the PAN card is used to track the individual’s taxable transactions.
  • Transactions Monitoring: PAN card helps the government monitor transactions, particularly high-value transactions, to ensure that they are in compliance with the law and to detect any instances of tax evasion or money laundering.
  • Allotment of Shares: PAN card is also used to ensure that the allotment of shares in an IPO is done in a fair and transparent manner. By using the PAN card as a unique identifier, the government is able to track the number of applications made by an individual, preventing multiple applications from a single person and ensuring a fair distribution of shares.

Therefore, a PAN card is mandatory for all applicants for an IPO in India.

Without PAN Possible to participate in an IPO

No, it is not possible to participate in an IPO (Initial Public Offer) in India without a PAN (Permanent Account Number) card. A PAN card is mandatory for all applicants of an IPO as per the regulations set by the Securities and Exchange Board of India (SEBI). The PAN card is used for various purposes, including verifying the identity of the investor, tracking taxable transactions, and monitoring high-value transactions to ensure compliance with the law.

If you don’t have a PAN card, you can apply for one before participating in an IPO. The process of applying for a PAN card is relatively simple and can be done either online or through a physical form. You will need to provide certain personal details and supporting documents to complete the process. Once you have received your PAN card, you can use it to participate in an IPO or any other financial transactions that require a PAN card.

Is it safe to share the pan Card number?

It’s not recommended to share your PAN Card number on any other online platform unless it’s necessary for a legitimate purpose and you trust the recipient to handle your information securely.

PAN numbers are considered sensitive personal information and can be misused if not protected properly. Sharing it unnecessarily increases the risk of identity theft and financial fraud.

Before sharing your PAN number, consider the purpose for which it’s being asked, the recipient’s reputation, and the security measures in place to protect your information.

What are the steps to be followed if I mistakenly shared my PAN Details

If you have mistakenly shared your PAN details, you should take the following steps to protect your identity and financial information:

  • Report the Incident: Contact the recipient of your PAN details and ask them to delete the information immediately. If the recipient is a legitimate entity, such as a bank or financial institution, report the mistake to their customer service department.
  • Change your Passwords: Change the passwords for any online accounts that use the same login information as the platform where you shared your PAN details.
  • Monitor your Accounts: Regularly monitor your bank and credit card accounts for any suspicious activity. Look for unauthorized transactions or purchases.
  • Place a Fraud Alert: Place a fraud alert with the credit bureaus to notify them of the potential risk to your identity. This will make it harder for someone to open new accounts in your name.
  • File a Complaint: If you suspect that your PAN details have been misused, file a complaint with the police and the Ministry of Corporate Affairs. Please provide them with as much information as possible, including the incident’s date and time and the recipient’s name.
  • Get a New PAN Card: If you are concerned that your PAN details may have been compromised, you can apply for a new PAN card and surrender the old PAN Details with the income tax department. This will ensure that any future transactions or financial activities are conducted under a new PAN number, making it more difficult for anyone to misuse your old PAN details.

What are the different types of PAN cards in India?

There are primarily two types of PAN (Permanent Account Number) cards in India:

You can apply for a PAN card online through the NSDL (National Securities Depository Limited) or UTIITSL (UTI Infrastructure Technology and Services Limited) websites by following the steps mentioned and providing the required documents.

Apply For a New Pan card

To apply for a new PAN card, you can visit our website. Click on the ‘New PAN Card’ link on the homepage,

This will take you to the application form. You will be required to fill in your details including your name, date of birth, address, etc. After you have filled out the form, you will need to submit it along with the requisite documents and fees.

Once your application is processed, after receiving the signed form with the document in physical. The applicant will be issued a PAN card with his/her unique PAN number.

To apply for a new PAN card in India, you can follow these steps:

Fill out Form 49A: This form is used for applying for a new PAN card and is available on the website.

Gather Required Documents: You will need to provide proof of identity, address, and date of birth. Acceptable documents for ID and DOB is Aadhaar Card, For address Aadhaar, Voter ID, Passport, etc.

Submit Form and Documents: Submit the completed form along with the required documents to our PAN service centre or apply for it online through the website. You can submit the form either in person or by courier or by post.

Individual PAN Card

An individual in India can apply for a PAN (Permanent Account Number) card. This is a unique 10-digit alphanumeric identifier issued by the Indian Income Tax Department. To apply for a PAN card, an individual must fill out Form 49A and submit it along with the required documents to our PAN service centre or apply for it online through the website, NSDL or UTIITSL website. The documents required are:

Proof of identity and proof of DOB Aadhaar card

Proof of address (such as utility bill, bank statement, etc.)

Recent Two passport-sized photographs with a plain background

Once the application is submitted and processed, the PAN card will be sent to the registered address of the individual.

Business PAN Card

Partnership Firm PAN Card

A Partnership firm in India needs to apply for a PAN (Permanent Account Number) card. This is a unique 10-digit alphanumeric identifier issued by the Indian Income Tax Department. To apply for a PAN card, the partnership firm must fill out Form 49A and submit it along with the required documents to our PAN service centre or our website. The documents required are:

Copy of Partnership Deed

Any One Partner has to sign the application with the firm for seal

Email Id and mobile number of the partnership firm

Once the application is submitted and processed, the PAN card will be sent to the firm’s registered address.

Limited Liability Partnership PAN Card

A Limited Liability Partnership (LLP) in India needs to apply for a PAN (Permanent Account Number) card. This is a unique 10-digit alphanumeric identifier issued by the Indian Income Tax Department. To apply for a PAN card, the LLP must fill out Form 49A and submit it along with the required documents to our PAN service centre or our website. The documents required are:

LLP Agreement

LLP Certificate issued by MCA

Any designated partner has to sign the application with a FOR seal of LLP

Email Id and mobile number of the LLP

Once the application is submitted and processed, the PAN card will be sent to the registered address of the LLP.

How do I save income tax under Section 80DDB?

Section 80DDB of the Income Tax Act, of 1961, allows for a tax deduction for medical expenses for certain specified diseases and illnesses. This section is applicable to individuals and Hindu Undivided Families (HUFs).

To claim a deduction under Section 80DDB, you must meet the following conditions:

  • The expenses must be incurred for the medical treatment of a specified illness of the taxpayer, their spouse, children, or parents.
  • The expenses must be supported by a prescription from a specialist doctor in a government or recognized hospital.
  • The maximum deduction allowed is Rs. 1,00,000 for taxpayers below 60 years of age and Rs. 1,50,000 for taxpayers above 60 years of age.

It is important to keep all relevant bills and receipts related to medical expenses, as the Income Tax Department may require these during the assessment. Additionally, a taxpayer may need to furnish Form 10-IA while claiming this deduction

What if I do not pay my income tax?

Under the new tax regime introduced in Budget 2020, you can choose either to opt for the old tax regime or the new tax regime while filing your income tax return.

If you choose the new tax regime, you cannot claim the House Rent Allowance (HRA) exemption as all exemptions and deductions, including HRA, have been removed.

However, if you choose the old tax regime, you can still claim HRA exemption if you meet the conditions and criteria specified under section 10(13A) of the Income Tax Act, 1961.

It is recommended that you evaluate your tax liability under both regimes and choose the one that provides you with the lower tax liability, taking into account your specific financial situation and other factors.

You can also consult with a tax professional for further guidance.

What if I do not pay my income tax?

If you do not pay your income tax, you may face the following consequences:

  1. Interest on Unpaid Taxes: If you do not pay your taxes by the due date, the tax department may charge you interest on the outstanding amount. The interest rate is usually 1% to 1.5% per month, depending on the type of tax.
  2. Late Filing Fees: If you fail to file your income tax return (ITR) by the due date, you may be required to pay a late filing fee as per the provisions of Section 234F of the Income Tax Act.
  3. Tax Notice: If the tax department suspects that you have not paid the correct amount of tax, it may issue a notice to you asking you to pay the outstanding amount. If you fail to respond to the notice, you may face further enforcement action.
  4. Criminal Proceedings: In extreme cases, if you have not paid taxes despite repeated reminders, the tax department may initiate criminal proceedings against you.

Therefore, it is advisable to file your taxes on time and pay any outstanding tax liabilities to avoid these consequences. If you have difficulty paying your taxes, you can contact the tax department for guidance on payment options or alternative arrangements

How do I file income tax in India?


In India, income tax returns (ITRs) can be filed online or offline. Here is a step-by-step guide for filing income tax returns online:

  • Gather required documents: You will need to have a PAN (Permanent Account Number), bank details, and proof of income such as salary slips, TDS certificates (Form 16 or Form 16A), and rent receipts if you are claiming HRA (House Rent Allowance) exemption.
  • Register on the e-filing website: Go to the Income Tax Department’s e-filing website and register for an account if you do not have one already.
  • Login to the e-filing portal: Log in to your account on the e-filing portal using your PAN and password.
  • Prepare and submit ITR: Select the appropriate ITR form based on your source of income and fill in the required information. Upload the required documents and submit the ITR.
  • Digital Signature or Aadhaar OTP: After submitting the ITR, you may be required to provide a digital signature or Aadhaar OTP to authenticate your identity.
  • Confirm ITR-V receipt: You will receive an ITR-V receipt confirming the successful submission of your ITR. Print and keep a copy for your records.
  • Track the status of your ITR: You can track the status of your ITR on the e-filing portal. If there are any issues with your ITR, the tax department may issue a notice seeking clarification.

It is essential to file your ITR by the due date, usually July 31st of the assessment year, to avoid late filing fees and interest on outstanding taxes.

If you are unable to file your ITR by the due date, you can request an extension of time to file.

How do I link Aadhaar with a ration card?

You can link your Aadhaar card with your ration card in India in the following ways:

  • Online: You can visit the official UIDAI website (uidai.gov.in) and link your Aadhaar with your ration card online by providing your Aadhaar number and other details.
  • Through the ration card office: You can visit your nearest ration card office and provide your Aadhaar number and other details to link your Aadhaar with your ration card.
  • Through the fair price shop: You can visit the fair price shop where you collect your rations and provide your Aadhaar number and other details to link your Aadhaar with your ration card.

Note: In order to link your Aadhaar with your ration card, you may need to provide documents such as your Aadhaar card and ration card, and the process may vary depending on the state you live in. It is recommended to check with your local ration card office or fair price shop for the specific process to link your Aadhaar with your ration card.

Difference Aadhaar card, ration card and PAN Card

Aadhaar Card: Aadhaar is a 12-digit unique identification number issued by the Unique Identification Authority of India (UIDAI) to residents of India. It serves as proof of identity and address and is used for various purposes including accessing government subsidies, availing government services, and opening a bank account.

Ration Card: A ration card is an official document issued by the government of India to families who are below the poverty line. It enables the cardholder to purchase essential goods such as food grains and fuel at subsidised rates from government-run fair-price shops.

PAN Card: Permanent Account Number (PAN) is a 10-digit alphanumeric identifier issued by the Indian Income Tax Department to individuals and entities for tax purposes. PAN is mandatory for financial transactions above a certain threshold, for opening a bank account, and for filing income tax returns in India.

In short, Aadhaar serves as proof of identity and address, a ration card enables the holder to purchase essential goods at subsidised rates, and PAN is used for tax purposes

What was the day that the PAN card started in India?

The Permanent Account Number (PAN) card was introduced in India on July 1, 1975, by the Income Tax Department. It is a 10-digit alphanumeric identifier issued to individuals, companies, and other entities for tax purposes.

The PAN serves as a unique identification number and is mandatory for transactions above a certain limit, filing of tax returns, and various other financial transactions.

Why was Pan introduced by the government of India?

The Permanent Account Number (PAN) was introduced by the government of India as a means of maintaining a central database of all financial transactions conducted by individuals and organizations in the country. The PAN serves as a unique identifier for taxpayers and enables the government to track and monitor financial transactions, thereby preventing tax evasion and fraud.

By having a PAN card, the government can track an individual’s or organization’s financial transactions and ensure that taxes are paid accurately and on time. The PAN system also helps in reducing the likelihood of multiple PAN cards being issued to the same individual or organization, thereby increasing the efficiency of tax administration and compliance.

In summary, the PAN was introduced by the government of India to improve tax administration, increase transparency and accountability in financial transactions, and prevent tax evasion and fraud.

Types of PAN Cards

Permanent Account Number (PAN) cards in India are issued in the form of laminated plastic cards, commonly known as PAN cards. There are four types of PAN cards in India:

  1. Individual PAN: This type of PAN is issued to individuals, including sole proprietors, partners in a partnership firm, and directors of a company.
  2. Hindu Undivided Family (HUF) PAN: This type of PAN is issued to Hindu Undivided Families.
  3. Association of Persons (AOP) PAN: This type of PAN is issued to unincorporated associations, clubs, societies, and trusts.
  4. Company PAN: This type of PAN is issued to companies, including private limited companies, public limited companies, and limited liability partnerships.
  5. NRI Pan card : PAN Application Form 49AA For NRI/Foreigner/Individuals not being a Citizen of India/Entities incorporated outside India

Each PAN card is unique and linked to the individual, company, or entity to which it is issued, and is valid for the lifetime of the taxpayer.