J&K&L High Court: Maternity Leave is a Constitutional Right and Cannot be Treated as State Charity || P&H High Court: Second Anticipatory Bail Plea is Not Maintainable After Supreme Court Rejection || Bombay High Court: No Prior Sanction is Required to Prosecute Police For Custodial Assault || Allahabad High Court: Strict Proof of Marriage is Unnecessary if Couple Lived as Husband and Wife || Delhi High Court: UP Passport Disputes Cannot be Filed in Delhi Only Because MEA is Based There || Bombay High Court: Revenue Officers Cannot Decide Caste Status to Remove Tribal Land Protections || Calcutta High Court: Punjab National Bank Liable to Compensate Farmers For Crop Insurance Lapse || Calcutta High Court: Joint Settlement of Liquor Licence is Allowed if All Eligible Heirs Consent || Delhi High Court Holds Multiple Sclerosis is a Specified Disability under the RPWD Act || Allahabad High Court: An Alibi Must be Proved at Trial and Cannot be Accepted by the IO Alone

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 :