Supreme Court: Past Ad Hoc Service Counts for Pension, Not Seniority Against Direct Recruits || SC: CPC Amendment Allowed When New Facts and Reliefs Directly Relate to Existing Dispute || SC: Governing Law Clause Relevant to Determine Arbitral Seat When Two Venues Are Named || Supreme Court: Section 161 CrPC Statements Can Be Considered at Cognizance Stage, Not at Trial || Bombay High Court Directs Release of Protesters Held over Anti-ECI Agitations || Kerala High Court Orders State to Pay Rs. 21,000 Post-Surgery Assistance to Transgender Person || Madras High Court: DVAC Not Entitled to Blanket RTI Exemption in Corruption Cases || Karnataka High Court Strikes Down Enhanced SC/ST Quota for Breaching 50% Reservation Cap || Delhi HC: First-Come, First-Served Policy for Ramleela Ground Allotment is Unfair || Kerala HC Upholds Automatic Revocation of Christian Wills on Marriage under S.69 Succession Act

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 :