Calcutta HC Rejects Reliance on ‘Vedic Mantras’, Commutes Death Sentence in Wife’s Murder Case || Tripura High Court Pulls Up State Over Failure to Implement Supreme Court's Open Prison Directions || Calcutta HC Upholds Life Term for Father who Raped Minor Daughter, Causing Pregnancy || Karnataka HC Directs Trial Courts, Police to Furnish S.164 of CrPC Statement Copies to Accused || P&H HC: Immigration Fraud by Consultancies is a Growing Menace, Denies Pre-Arrest Bail Leniency || CCPA Fines Rs. 1 Lakh Penalty on United Biscuits over Misleading ‘Wholewheat’ Claims || Bombay HC Permits OTT Release of Hindi Film ‘Bandar’ Subject to Appropriate Disclaimers || Gujarat HC Grants Bail to Marriage Bureau Owner, Finds No Link to Alleged ‘Looteri Dulhan’ Gang || Calcutta HC: Minor’s Consent has No Mitigating Effect in POCSO Sexual Assault Cases || Orissa HC Commutes Death Sentence, Says Emotion Cannot Override Established Law

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 :