Why ‘DIN’? | DIN Implementation from October | Tax documents will not be valid without DIN

February 4th, 2013| Finance.

Tax documents will not be valid without DIN
With an intention to make the tax payments affairs more transparent, Central Government Ministry has brought a new implementation. Document Identification Number (DIN) is being introduced which will be like Permanent Account Number (PAN) and Tax deduction Account Number (TAN). Necessary tasks in this regard are initiated so as to implement it from 2010-2011 financial year. After its enforcement, every tax document should necessarily have DIN on it. Also, it is mandatory for the tax department to state DIN in all the communication letters sent to any person or a company.

Why ‘DIN’?
Tax filling is a known process that is conducted every year. Some people who pay tax in higher amount will apply for refunding. Along with it, notices, circulars and letters are received from the income tax department. To ease all these process and to accomplish them quickly, DIN will be the most useful ones, according to the officials.

It is mandatory for both the tax department and the individuals to state DIN number on any related document. Otherwise it will not be valid. A new section in law, 282B is going to be enforced which compels the usage of DIN.

DIN Implementation from October
Income Tax department has acquired technology not only to allot DIN to customers, but also to the officials of that department. This will be accomplished by October. From 2010-11 financial year, it will become mandatory to state DIN at the time of tax filing.