Link your Aadhaar-PAN by March 31, 2022
The Central Board of Direct Taxes ( CBDT ) has clarified that, Permanent Account Number (PAN) will not be operative after 31st March 2023. if not linked with Aadhaar.
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PAN
PAN to be mandatory for transactions above Rs.2 lakh
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…
Rules regarding quoting of PAN for specified transactions amended
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…