Category: Most Asked Questions

Name In Pan Card, Passport, Aadhaar, Indian Naming System: A name provides a person with a unique identity and differentiates him/her from others. The famous play writer William Shakespear, in his play Romeo and Juliet, had said, “What is in a Name?”. But today, a name is the only identity that a person can be recognised with. For the official records, one’s name has to be correct and properly filled in.

Most of the time, it is seen that people find it difficult to fill their names in the forms of Aadhaar, PAN card, and Passport. They often commit mistakes in filling their names which are later incorrectly printed on PAN, Passport, or Aadhaar, and they go through a lot of hassle to correct that name.

People with initials in their names often find it difficult to fill their first, middle, and last names in the forms. Here in this article, we will discuss the procedure to fill forms of various documents, such as Aadhaar, PAN card, etc.

Filling Form for Permanent Account Number

A permanent Account Number, commonly known as PAN, is a 10 digit alphanumeric code given to each taxpayer registered with the Income Tax department. It is a unique identification allotted to the taxpayers by the Income Tax Department. All the financial transactions carried out by a person is recorded with the Income Tax Department with the help of PAN. The Income Tax department is responsible for issuing the PAN to each taxpayer. The PAN’s front-end operations are carried out partly by the UTI Infrastructure Technology and Service Limited and the National Securities Depository Limited since 2003.

To get your PAN card, you can either apply online on the IT department portal or get it offline by going to the income tax office. To apply for the PAN card, one has to fill the application form for PAN, and the following are the points that one should adhere to while filling the name for PAN.

• While filling in your details in the PAN application form, always remember not to use abbreviations for the First name and Last Name or Surname.
• When you fill the PAN application form, there are precisely 25 boxes for Name to be filled. So, it can be said that the PAN cannot have a Name that exceeds 25 characters.
• Filling the names of parents is mandatory in the PAN application form. Father’s name has to be filled by every individual. Married women will also have to fill in their father’s name and not their husband’s. Mother’s name is optional for PAN application.
• One should check in the appropriate box as to whose name to be printed on the PAN card, father’s or mothers. If no box is checked, then the father’s name will be printed.
• If you want to get your PAN card with a single name, that means without middle name or surname. You have to fill your name in the place of surname, leaving the first name and middle name blank.

Filling Application for Passport

A passport is an official document, which proves the citizenship of a person. An Indian Passport is an official document provided by the Government of India to each of its citizens to facilitate their travel abroad. The passport allows the people of India to travel Internationally and provide proof of Indian citizenship. Before applying for a passport, here are some of the points you need to focus on. Here are the instructions to be followed to fill name in the application form for a passport.

• The Name in a Passport can have up to 75 characters, unlike PAN. A name having 75 characters can be printed on a passport.
• Always keep in mind that the name on a passport cannot contain initials. They have to be written in expanded form.
• A person should not enter honorific titles awarded to him/her. Titles such as Doctor, CA, or Major are not allowed on a Passport.
• A person can ad two words in his/her surname on a passport. For example, a person having the surname Roy Choudhary can add both their surnames on a passport.
• Some people in the country do not have a surname; in such a case, the person can enter only the first name leaving the space for surname blank. Not having a surname on a passport can invite problems for persons travelling abroad, as some countries emphasise surname for issuance of VISA.

Filling Application for Aadhaar

Aadhaar has emerged as one of the essential identification documents in the past years. It is almost needed in every document verification process across India. Aadhaar is a 12 digit identification number provided to every individual of India. This identification number serves as the proof of identity and address of the bearer. The Unique Identification Authority of India or UIDAI is the department that issues the Aadhaar card to the residents of India. Any person, irrespective of age and gender, who satisfies the verification process of UIDAI can enrol himself/herself for Aadhaar. Before filling the application form for Aadhaar, here are some of the instructions that one needs to pay attention to.

• A person can use the initial in his/her name for the Aadhaar card. All one requires is to provide the document which proves his/her identity.

Documents Serve as Proof for Aadhaar

The documents that serve as proof for Aadhaar enrollment are:

• Passport
• PAN
• Voter ID card
• Driving License
• Identity cards issued by PSUs
• Arms License
• Photo Identity card issued by recognised educational institute
• Kissan Photo Identity
• Freedom Fighter Photo Identity
• Pensioner Photo Identity
• Ration card

Naming System In Different Regions of India

In India, the naming system varies from region to region, depending on various naming conventions. Names in India are influenced mainly by caste, religion, and other beliefs. The naming system in India creates many issues while filling forms for official documents across the country. Let’s have a look at the different naming styles in the different regions of our country.

Naming System In Northern Region

In the Northern families, the children are named in a typical manner where their family name or surname follows their first name. In states like Delhi, Uttar Pradesh, and Punjab, people name their children with given names followed by their family name or surname.

Naming System In Western Region

People belonging to western states, like Maharashtra and Gujrat, have the custom to take up their Father’s name in addition to their first name. For example, Jethalal, who belongs to a Gujrati family and his father’s name is Champaklal, His name on official documents will appear as Jethalal Champaklal Mehta. Mehta being his family name or surname.

Naming System In Southern Region

Most people living in the southern part of India have abbreviated forms of their name. In the southern state of Tamil Nadu, it is expected that a family name or surname comes before the first name. For example, the name Kumbham Nagarjuna Rao would be written as K.N. Rao. Here, Kumbham is the family name, and Nagarjuna Rao is the given name.

Naming System In Eastern Region

It is common in the eastern states like West Bengal and Odisha to address name in the following order, First name, Middle name, and Surname. In States like West Bengal, the middle name is not the father’s name. For example, Subhas Chandra Bose, Here Chandra, the middle name is not father’s name.

Conclusion on Name In Pan Card, Passport, Aadhaar, Indian Naming System

A name provides an identity to a person and proves him/her as a country’s resident. It is essential to have a common name across all the official documents to avoid any confusion. If a person has both first name and surname, then it’s easy and straightforward, but a person with initials of name or only first name has a hard time applying for official documents.

Meaning of Debit Note and Credit Note: A tax invoice must always be originally issued by a provider of goods or/and services. However, there might be some circumstances when an inaccuracy in providing the necessary invoice takes place and where various additional irregularities with the number or quality of products and services provided arise. The provider might simply issue a debit or credit note to fix such issues and problems, depending on the context.

What is a Debit Note?

A debit note is documentation or ticket issued by one entity to another that explicitly confirms that the other party’s bank account has been debited in the sender’s records.

Whenever there is a requirement for an increment in taxable value or a raise in GST levied in the invoice, a supplier will provide a debit note per Section 34(3). There is no defined layout for this; it could perhaps be a letter or a formalized declaration.

Nevertheless, under GST, the debit note can exclusively be provided by the supplier.

For example, a merchant, Mr X, buys products from Mr Y. Mr X soon discovers after collecting the material that the commodities contain several faulty goods worth Rs. 15,000. Mr X should now lessen the obligation in his books as payment due to creditor Mr Y. As a result of the change, Mr X sends Mr Y a debit note for Rs. 15,000, declaring that he has debited his account in his records.

Cases in which a Debit Note is Issued

• The provider has inaccurately assessed the items or services at a reduced amount than the authentic quantity.
• Instead of expressing the appropriate tax rate relevant to the products and services supplied, the supplier has claimed a lower tax rate on the invoicing.
• The quantity delivered to the recipient is larger than the amount reported on the tax invoice.
• Any other combination of circumstances that is fairly comparable.

What is a Credit Note?

A credit note is documentation or certificate issued by one party to another confirming that the other party’s account has been credited in the sender’s books.

When goods are rejected or deemed unsatisfactory or a drop in the taxable amount or GST charged in the invoice, a registered person provides a credit note under Section 34(1). The credit note is centred on an original invoice that has previously been given.

As a result, when the authorized person provides the Credit note, the supplier’s tax burden is lowered.

Cases in which a Credit Note is Issued

• The provider has wrongly evaluated the items or services at a greater value than the authentic number.
• Rather than declaring the appropriate tax rate applicable to the products or services supplied, the provider has stated a higher tax burden in the invoice.
• The volume given to the receiver is below what is specified on the tax invoice.
• The receiver is dissatisfied with the condition of the products or services provided, culminating in a partial or whole refund of the invoice amount.
• Any other circumstance that is fairly comparable.

Debit/Credit Note in Compliance with GST

The following are the reasons listed in GST returns under which a debit or credit note can be authorized:

• Return of Sales
• After-Sale Discount
• Services deficiency
• Invoice rectification
• POS change
• Finalization of Provisional Evaluation
• Other viable options

The Note Layout

Specifications about issued debit and credit notes must be reported on Form GSTR-1 for their given period. This information is provided to the beneficiary in Form GSTR-2A, which must be acknowledged and filed in Form GSTR-2.

There really is no standardized structure, although some extremely important particulars should be included in the debit or credit note, like:

• Name, and address and the supplier’s GSTIN.
• Document’s nature.
• A sequential reference number of no more than sixteen characters, in one or more series, featuring alphabets or numbers or special symbols such as hyphens and slashes, and any unique combination thereof, exclusive for a budgetary year.
• Date of issue of the corresponding note.
• If officially registered, the recipient or receiver’s address and name, and GST Identification Number or Unique Identity Number.
• When the receiver is not listed, provide the recipient’s name, address, and delivery address, as well as the name of the state and its pin code.
• The serial number and date of the accompanying tax invoice are provided.
• The worth of the taxable supply of goods or services, the tax percentage and the amount of tax charged to the beneficiary.
• The supplier’s or legally authorized representative’s signature or digital signature.

How Long Should a Credit/Debit Note Be Kept?

The credit note and debit note information must be maintained for seventy-two months well after the given deadline for completing the annual report for the year corresponding to such records and reports.

Link Aadhaar Card Income Tax PAN Number: Income Tax Department implements a new law under Section 139 AA, and according to the judgement of the Supreme Court on 9th June 2017, these are the following things applied for the person paying return from 1st July 2017:-

Every taxpayer who wants to File an Income Tax Return or intends to apply for PAN Card shall require their Aadhaar Card Number. However, suppose the taxpayer does not have their Aadhaar Number or issue their Aadhaar until now. In that case, they need to enrol for Aadhaar Card, and the enrolment ID of the Aadhaar application form will be applicable for their Aadhaar Number till the time Aadhaar is not ready.

The taxpayers who have their Aadhaar Card and PAN Card need to submit them to the Income Tax Department authorities for the purpose of linking their Aadhaar.

The Person Who Has To Link Their Aadhaar Number with PAN Number Under Section 139 AA

The linking for the Aadhaar Number with the PAN Number is only applicable to the individual. It is not applicable for Companies, HUF, LLP, Partnership as they can not get the Aadhaar Number.
Individuals that are having waive from linking their Aadhaar Number under Section 139 AA  are:-

1. People belong to the state of Assam, Meghalaya, and Jammu and Kashmir.
2. Non-residential are free to not link their Aadhaar Number as per the Income Tax Act 1961.
3. The person is having age 80 years or more.
4. They are living outside India that is they are not a citizen of India.

What is The Last To Link the Aadhaar with PAN Card?

Central Government has not announced any last date to link your Aadhaar with your PAN Card. The taxpayer can still link their Aadhaar Number with their PAN Card. Linking of Aadhaar is mandatory for returns. Linking of the Aadhaar Number is announced on 1st July 2017, and you can still link your Aadhaar Number to your PAN Card.

What are the Penalties for Not Linking Your Aadhaar With Your Pan Card Before The Last Date?

According to Central Government Law under Section 139 AA, your PAN Card becomes invalid if you will not link your Aahaar with your PAN Card. In addition, other consequences from Income Tax Department will be acted upon to your return and PAN Card according to the Income Tax Act if you will not apply for the allotment of PAN.

How to Link Your Aadhaar Number With Your PAN Number?

There are various ways to link your Aahaar Number with your PAN Number:-

• You can link to Aadhaar without logging into the Income Tax E-filing portal. It is the simplest way to link the Aadhaar Card with your PAN Card
• Go to the official website of income tax e-filing, and there in the right menu, you can see an option of “Link Aadhaar.” Click on that option.
• Enter your PAN Card details, Aadhaar Number, Name (as exact as written in the Aadhaar Card), Date of Birth and all other required information in the table.
• Enter the captcha and click on the “Link Aadhaar.” You can also request the OTP. The OTP will be sent to the registered mobile number. Fill the OTP in the required box and click on the “Link Aadhaar.”
• If all the details entered by you are correct, a confirmation message will appear on the screen.

NOTE- OTP will only generate when the entered Date of Birth and Gender is precisely matching.

1. Link your Aadhaar after logging into your Income Tax E-filing portal.
   1. Go to the official website of income tax e-filing and log in through your credentials.
   2. Visit your profile settings section and search on the right menu for the “Link Aadhaar” option and click on it.
   3. Click on the “Continue” button if your Aadhar is not linked with your PAN.
   4. Enter your details like Name, Date of Birth, Gender, Aadhaar Number, etc. If your full date of birth is not mentioned in your Aadhaar, click on “I have the only year of Birth in Aadhaar” and proceed by clicking the  Link Aadhaar” button.
   5. If your filled details are correct, then a confirmation message will appear.

NOTE- OTP will only generate when the entered Date of Birth and Gender is precisely matching.

Link your Aadhaar using your registered mobile number.

You can link your Aadhar Card with your PAN Card with a simple SMS. Type UIDPAN <12digitAadhaar><10digi PAN> and send this SMS to 567678 or 56767 only from your registered mobile number (if you use another mobile number, the Aadhaar will not link)

E.g., UIDPAN 147852369012 7412589630

What if the Taxpayer Does not have Aadhaar Card?

If the taxpayer does not have their Aadhaar Card or does not register to date, then the taxpayer does not fall in the ambit of Section 139 AA. But the Supreme Court judgement on linking of Aadhaar Number with PAN Number on 9th June 2017 gave relaxation on the compulsory norm for linking the Aadhaar Number when PAN Cardholder does not have Aadhaar Number for the time being.

What if the Details of your Aadhaar and your PAN Card is Different?

If the taxpayer has some difference in details mentioned in Aadhar and PAN, they must correct Aadhar according to PAN Card or in PAN Card according to Aadhar Card.

• Correction in your Aadhar Card: File your correction online at ssup.uidai.gov.in/web/guest/ssup-home with your registered mobile number. From this link, you can update the details in your Aadhar Card.
• Correction in your PAN Card: File your correction online at onlineservices.nsld.com/paam/endUserRegisterContact.html with your registered mobile number. From this link, you can update the details in your Aadhar Card.

What If The Taxpayer Has Two Or More Pan Cards?

It is illegal to hold more than PAN cards, and if having more than one PAN Cards then in such case, the holder needs to surrender their extra PAN Cards. The holder can submit their PAN Cards online by visiting the Tax Information Network of Income Tax Department, PAN Cancellation page.

Kerala Gramin Bank Personal Loan: Kerala Gramin Bank is one of India’s largest Regional Rural Banks, founded on 8th July 2013. This bank is under the ownership of the Central and State Government, and Canara Bank gives sponsorship. It is handled by the Ministry of Finance, Government of India. Its headquarter is situated at Malappuram in Kerala. This bank was formed by combining two Regional Rural Banks of Kerala named South Malabar Gramin Bank and North Malabar Gramin Bank through a notification by the Government of India. It has a dominant presence in all fourteen districts of Kerala. This Bank provides banking facilities to rural and semi-urban areas in Kerala. This bank offers banking facilities to rural and semi-urban regions of Kerala. Not only that but also

Kerala Gramin Bank has the potential capacity to operate with resources from market sources. For the past 38 years, this Bank has successfully built a warm relationship with its customers. Kerala Gramin Bank ensures to protect the interest of the depositors and borrowers. Now, this bank has a total of 501 branches all over Kerala state.

Kerala Gramin Bank offers personal loans schemes to give you the best that suits you. It provides different types of applicable interest rates. Now, you need to read on and find every detail of Kerala Gramin Bank’s loan.

Curious to check other banks’ offered Personal loan features, eligibility, interest rates, tax benefits, and a repayment plan. Go with our one-stop Personal Loan Page & swipe out your doubts within no time.

Kerala Gramin Bank

Kerala Gramin Bank Personal Loan Features and Advantages

• You can lend the maximum amount of money.
• Options to repay multiple loans are available here.
• It provides high-speed and easy processing of personal loan applications.
• Loans are approved quickly.
• There is no guarantor needed for a loan application.
• You can find an applicable interest rate as you want.
• A personal loan doesn’t require any security.

How to apply for Kerala Gramin Bank Personal Loan?

• Online mode: If you want to apply for a personal loan from Kerala Gramin Bank in online mode, you have to check out the website of this Bank and then fill it up with your pieces of information and then upload the necessary documents.
• Offline mode: On the other hand, you can apply offline to get a personal loan. For that, you need to visit personally any nearby branch of Kerala Gramin Bank along with all the required documents such as identity proofs, and then you have to fill the form to get the loan approval.

Kerala Gramin Bank Personal Loan Purpose

To get a personal loan from Kerala Gramin Bank, you must show the purpose.

• Debt consolidation: You can take a personal loan to repay various issues.
• Emergency purpose: You can apply for your loan for any emergency cost or something else that needs immediate action.
• Moving cost: When you move out of your location, you need extra money to cover the expenses. That’s why you need to take a personal loan.
• Wedding expenses: To pay for any expenses used for the wedding, you can apply for a personal loan.
• Vehicle financing: If you want to buy a vehicle, personal loans are also available.

There are also many different purposes such as vacation costs, appliance purchases, home remodeling, etc.

Kerala Gramin Bank Personal Loan Eligibility Criteria

• Age should be from 21to 58 years.
• Permanent employees of Central or State Govt., Public sector undertakings, corporations, Private Sector Companies, and reputed establishments can apply for the personal loan.
• Applier must be self-employed with a decent salary.
• Up to three years of experience is needed in the current job/business/profession.

Kerala Gramin Bank Personal Loan Documents Required

1. The personal loan form must be filled out and signed correctly.
2. Photographs
3. Any identity proofs such as Aadhar card, driving license, PAN card, Voter ID card, etc.
4. Proof of income like the latest salary slip, which shows all deductions.
5. Address proof like Bank account statement, lastest electricity bill, latest mobile or telephone bills, latest credit card statement, etc., along with the existing house lease agreement.
6. Bank statement or the Bank Passbook with the entries of the last six months.

Reasons for the Rejections of Personal loan

1. If the credit score is inferior: A credit score is a number that represents a person’s financial and credit standing and ability to obtain the economic condition. A good credit score refers to one’s credibility to repay the loan without default. Their lenders need to understand the risk of default. A person with a credit score of 750 may face an issue to be rejected from getting a personal loan.
2. If the size of the existing Debt is large: If you have already taken a lot of loans and the loan net income ratio is above 40%, then your loan application may be rejected by the leaders.
3. If the Loan inquiries are high in numbers: Whenever you apply for credit, you are asked for your credit report from the credit bureaus by the lenders, which is called an inquiry. The credit bureau considers such inquiries, called hard inquiries, and it is mentioned in your credit report. You should not make too many inquiries even if they are available free of cost. It will impact a negative effect on your credit score.

Some Personal Loan Myths

• Prepayment of personal loan always attract the penalty:It is baseless when someone says that prepayment of a personal loan always attracts a penalty. It depends upon the lenders for the charges of any prepayment penalty. Many lenders don’t charge any prepayment penalty.
• Personal Loan, which has the lowest interest rate, is the best: It is wrong that a personal loan at the lowest interest rate is best. You can find many other essential components that matter when you select the best lender for your loan. These components include processing fee, eligible amount, tenure of loan repayment, etc.
• If you don’t have a regular income, then your Loan application gets rejected: You can get a chance personal loan application approved even if you don’t have a regular source of income. You have to add a joint holder having a steady income, and then your loan approval will be given.
• Longer Personal Loan Repayment tenure is better than any others: It is not true that longer personal loan repayment tenure is better as the borrower will need to pay lower EMIs comfortably. Higher interest outgo is brought by longer repayment tenure. One has to pay interest for an extended period.
• Interest rates are impassible: The interest rates on personal loans vary from the customers to the customers. A person with a decent credit score and a good income can negotiate the interest rates with the lenders and get comparatively some lower interest rate loans.
• Personal loan approval is guaranteed by a good credit score: If you carry a good credit score, it doesn’t mean that you can get Personal Loan approval very quickly. There are also so many factors like income, regularity of income, employer, employment type, etc. by which the lender considered during the loan approval process.
• If you have a poor credit score, you can’t get a personal loan: A credit score is one of the factors considered to get your loan approval. Your application to get Personal Loan can be rejected with a good credit score because of the other factors which are not up to the mark. A home loan is sanctioned depending on other factors like the borrower’s age, the applicant’s income, etc. When the significant banks don’t provide home loans with poor credit scores, the cooperative banks give Personal loans.

Conclusion on Kerala Gramin Bank Personal Loan

So basically, Personal Loan is a suitable financing option for consolidating existing debts. Most lenders will check your credit score and other factors for the interest rate. So, You have to balance all the elements to get your loan approval. On the other hand, it is a kind of unsecured credit provided by the Bank based on your purposes and eligibility.

Interest Rates of Post Office Small Savings Schemes: Indian Post is one of the most popular postal chains in the country. It is best known for its postal and courier services nationwide. The India Post controls the overall postal chain of the country, and it also provides various saving schemes for the public. With the rapid advancements in the communication fields and the inventions of the mobile phone, e-mails, and texts, the Indian post saw a downfall in the past years. But, the banking and the depository services of the India post became popular among the public for their attractive interest rates and yields.

In recent times, managing funds and finances have become the most challenging for individuals. Most people do not have any idea about investments and saving schemes, making it difficult for them to save money for their future. To increase investment activities and inculcate saving habits in Indians, the Government of India introduced various saving schemes under the Postal services.

The several savings and depository services available for the public under India Post are called Post Office Saving Schemes. These were introduced to increasing investment activities among the public, thereby providing them with high yields. The depository services are provided by every branch of India post across the country.

This article will discuss various post-saving bank schemes, their interest rates, benefits and other terms related to Post Office Savings Schemes.

What are Saving Schemes?

Savings schemes can be defined as the instruments that help individuals manage their finances and provide investment opportunities to help them achieve their financial goals over a given period. The Government introduced these savings schemes to inculcate saving discipline among individuals and to provide risk-free investment opportunities. The savings earned from these schemes can be used for different purposes such as children’s education, marriage or other emergencies.