SC Condemns Witch-Hunting, Says Superstition Continues to Override Constitutional Morality || SC: Retired Judges Appointed to Central Industrial Tribunals Not Entitled to Pay Parity || SC: Electricity Boards Liable for Electrocution Deaths under Strict, Not Absolute Liability || Supreme Court Criticizes Courts For Conducting ‘Mini-Trials’ in Temporary Injunction Matters || SC: Common Judgment in Suits by Same Plaintiff can be Challenged Through Composite Appeal || Chandigarh Court Orders Meta to Take Down AI-Generated Video of Punjab MLA Sukhpal Khaira || Delhi HC: Insolvency Professionals Must Collect & Deposit GST Even if they are Advocates || Madras HC Rejects Election Petition Challenging Colachel MLA Tharahai Cuthbert || Supreme Court: Uncrystallized Contractual Damages Not an Operational Debt under Section 9 IBC || Supreme Court: Interest Accrued in Suspense Account After NPA Classification is Recoverable as Debt

Rules regarding quoting of PAN for specified transactions amended - (15 Dec 2015)

MANU/PIBU/1806/2015

Direct Taxation

To bring a balance between burden of compliance on legitimate transactions and the need to capture information relating to transactions of higher value, the Government has enhanced the monetary limits of certain transactions which require quoting of Permanent Account Number. Some of the raised monetary limits are Rs. 10 lakh from Rs. 5 lakh for sale or purchase of immovable property; Rs.50,000 from Rs. 25,000 in the case of hotel or restaurant bills paid at any one time; and to Rs. 1 lakh from Rs. 50,000 for purchase or sale of shares of an unlisted company.

Tags : PERMANENT ACCOUNT NUMBER BLACK MONEY TRANSACTIONS

Share :