Friday 22 January 2016

PAN requirement from 1 January 2016

PAN requirement: How your life will change from 1 January

A look at where the tax department’s new rules will apply



In an attempt to curb black money and encourage people to move towards cashless transactions, the income tax department has changed some rules related to the Permanent Account Number (PAN). The rules, which apply to financial transactions, will come into effect on 1 January. Listed here are some of the changes that will come into force.