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TMI BlogSubstitution of New Section for Section 139AX X X X Extracts X X X X X X X X Extracts X X X X ..... f his total income or the total income of any other person in respect of which he is assessable under this Act during any previous year exceeded the maximum amount which is not chargeable to income tax; or (ii) carrying on any business or profession whose total sales, turnover or gross receipts are or is likely to exceed fifty thousand rupees in any previous year; or (iii) who is required to f ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... rsons referred to in sub-sections (1) and (2) and other persons who have been allotted permanent account numbers and residing in a place to be specified in such notification, shall, within such time as may be specified, apply to the Assessing Officer for the allotment of a permanent account number under the new series and upon allotment of such permanent account number to a person, the permanent a ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... dress or in the name and nature of his business on the basis of which the permanent account number was allotted to him. (6) Every person receiving any document relating to a transaction prescribed under clause (c) of sub-section (5) shall ensure that the permanent account number has been duly quoted in the document. (7) No person who has already been allotted a permanent account number under t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... count number" means a number which the Assessing Officer may allot to any person for the purpose of identification and includes a permanent account number allotted under the new series;
(c) "permanent account number under the new series" means a permanent account number having ten alphanumeric characters and issued in the form of a laminated card.'. X X X X Extracts X X X X X X X X Extracts X X X X
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