Question

expand CBDT and PAN
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Answer 1

●(CBDT)=The Central Board of Direct Taxes

It has allowed Permanent Account Number

●(PAN)=A permanent account number

it gives application through SPICe, a common application form for newly set-up companies.

Answer 2

Answer:

The fullform of CBDT and PAN are

• CBDT – Central Board Of Direct Taxes

• PAN- Permanent Account Number

Explanation:

Central Board of Direct Taxes - A statutory body operating under the Central Board of Revenue Act of 1963 is the Central Board of Direct Taxes. Ex-officio Board members serve as a division of the Ministry that deals with issues pertaining to the imposition and collection of direct taxes.

The composition of CBDT includes

A Chairman

Member for Income Tax & Revenue

Member for Legislation

Member for Administration

Member for investigation

Member for TPS & system

Member for Audit & Judicial purpose

Permanent Account Number - Different taxpayers in the nation can be identified using their Permanent Account Numbers, or PANs. A 10-digit unique identity alphanumeric number called a pan card is given to Indians, typically to those who pay taxes.

Every Indian tax-paying entity is given a unique identification number through the computer-based PAN system of identification. By using this technique, a person's whole tax-related information is stored against a single PAN number, which serves as the main key for information storage. Since this is shared throughout the nation, no two individuals on tax-paying entities may have the same PAN.

Hence , the expanded form of CBDT and PAN are Central Board of Direct Taxes and Permanent Account Number respectively.

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