The Government vide
notification S.O. (3545)(E) dated 30.12.2015, has made quoting of Permanent
Account Number (PAN) mandatory for all transactions (irrespective of the mode
of payment) of sale or purchase of goods or services of any nature exceeding
rupees 2 lakh and for other specified transactions with effect from the 1st day
of January, 2016. A person not having PAN can, however, undertake such
transactions by making a declaration in Form No. 60 as prescribed.
This was stated by Shri Jayant Sinha, Minister of State in the Ministry of
Finance in written reply to a question in Lok Sabha today.
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