PAN must for cash payment of hotel bill over Rs 50,000 from 01.01.2016
Furnishing PAN will be mandatory from 01.01.2016 for cash transactions such as hotel or foreign travel bills exceeding Rs 50,000 - a move aimed at curbing the black money menace.
Besides, PAN will be a must for all transactions, including purchase of jewellery, above Rs 2 lakhs in cash or through card with effect from January 1, 2016, the Finance Ministry said in a notification.
PAN will also be mandatory on purchase of immovable property of over Rs 10 lakh. This will ..
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