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PAN must for cash payment of hotel bill over Rs 50,000 from 01.01.2016

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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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