Supreme Court: Anti-Suit Injunction Cannot Rest on Speculation of Unenforceable Foreign Decree || SC: High Court’s Location doesn't Become Arbitration Seat Merely by Appointing Arbitrator || SC Disapproves PIL Challenging Inter-Se Evaluation of Tender Bids || Delhi HC: Bail Grant or Cancellation Cannot Depend on Monetary Settlement With Complainant || Kerala HC Directs Bar Council to Publish List of Advocates Practising Without AIBE Clearance, CoP || Rajasthan HC: Candidate Cannot Blame E-Mitra for Failing to Correct Caste Category Within Deadline || Patna HC: Mere FIR Registration cannot Justify Cancellation of PDS Licence || Calcutta HC: NEET Medical Board Cannot Reassess Disability Percentage of PwBD Candidates || Madras HC: MLAs Cannot Challenge Assembly Vote Later if They Raised No Objection During Voting || Karnataka HC Upholds DRDO Land Acquisition, Citing Primacy of National Security

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 :