SC: Filing a False FIR Alone does not Amount to Abetment of Suicide || SC: Police Cannot Probe Offences under Pre-Conception & Pre-Natal Diagnostic Techniques Act || SC: UP Gangsters Act Creates no Offence, Perpetuates Violence against Citizens || SC: Caste Abuse in Private Space without Public Presence is not SC/ST Act Offence || SC Reduces Judicial Service Practice Norm to 1 Year; Mandates Training & Clerkship || SC: Wife’s Income does not Reduce Father’s Duty to Maintain Children || SC: Government Cannot Revisit PSC Eligibility Decision When Service Rules Make it Final || Allahabad HC: S.34 IPC Applies if Co-Accused Shares a ‘Functional Relationship’ with Offence || P&H High Court: PSC Cannot Introduce Minimum Interview Marks After Medical Faculty Selection Begins || MP HC: Comprehensive Insurance Doesn't Mean Unlimited Passenger Liability Without Terms

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 :