Supreme Court: Promotion Remains Valid Even if an Employee's Grade Pay Stays Unchanged || SC Orders Bihar Government to Remove Ganga Riverbank Encroachments in Patna Within Six Weeks || Bombay HC: Child of Single Mother Can’t be Denied RTE Quota over Deceased Father's Caste Certificate || J&K&L HC: Complaint Dismissed Before Cognisance is Not an Acquittal & is Challengeable U/S 528 BNSS || Delhi HC Acquits Man in 2006 Rape Case, Says Names Like Ram or Mohammad do Not Define Virtue || Gujarat HC: Whatsapp Forward of Fake Newspaper Clipping Not Forgery Absent Proof of Fabrication || Supreme Court tells Parsvnath Developers to Comply with Haryana RERA Orders or Face Jail || Supreme Court: Article 142 Cannot Override a Concluded and Acted-Upon Settlement Between Parties || SC Grants One-Time Relief, Allows Law Students to Take Exams Despite Attendance Shortage || SC Grants One-Time Relief, Allows Law Students to Take Exams Despite Attendance Shortage

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 :