Supreme Court Outlines Principles Governing Exercise of Jurisdiction under Article 227 || Supreme Court Grants Anticipatory Bail to Pawan Khera in an FIR Filed by Assam Police || SC Issues Guidelines on Summary Judgment in Commercial Suits under Order XIII-A CPC || J&K&L High Court: Post-Conviction NDPS Bail Cannot Rest on Long Incarceration Alone || Gauhati HC: Promotion Cannot be Withheld Merely Because Investigation is Pending Without Chargesheet || Kar HC: Preventive Detention under Goonda Act Cannot Rest on Offences Committed During Juvenile Age || Bombay HC: National Security Justifies Denial of Police Clearance Certificate || Bombay HC: Comic Remarks Without Malicious Intent Not Religious Insult || J&K&L High Court: Scandalous Allegations Against Judicial Officers in Pleadings Impermissible || P&H HC: Writ Petition Against Private Trust's Contractual Employment Dismissed

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 :