Permanent Account Number

In yet another bid to curb generation of black money, quoting of the income tax Permanent Account Number (PAN) would be mandatory for cash transactions above Rs.2 lakh from January 1, 2016. “The government received numerous representations…

The Government is committed to curbing the circulation of black money and widening of tax base. To collect information of certain types of transactions from third parties in a non-intrusive manner, the Income-tax Rules require quoting of…