Income Tax Rule: PAN, Aadhaar Must for Cash Withdrawals, Deposits in These Cases from 26 MAY 2022

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The Centre has now made it compulsory for citizens to quote his or her PAN (permanent account number) or Aadhaar number,

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for withdrawing or depositing cash more than Rs 20 lakh

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it will now be mandatory for citizens to quote their PAN card or Aadhaar card number for cash

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withdrawals/deposits amounting to ₹20 lakh or more in a single financial year.

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The new rule was announced by the Central Board of Direct Taxes (CBDT) in a notification dated May 10.

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“The term transactions includes deposit/withdrawal of cash amounting to ₹20 lakh or more in a financial year through one or bank accounts. ,”

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Account(s) not just with commercial bank, but even co-operative bank or post offices

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The fresh guideline will also be applicable for the opening of a current bank account or cash credit account by.....

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a person with a banking company or a co-operative bank or a post office.

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thanks for reading

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Income Tax Rule: PAN, Aadhaar Must for Cash Withdrawals, Deposits in These Cases from 26 MAY 2022

The Centre has now made it compulsory for citizens to quote his or her PAN (permanent account number) or Aadhaar number,

The Centre has now made it compulsory for citizens to quote his or her PAN (permanent account number) or Aadhaar number,

for withdrawing or depositing cash more than Rs 20 lakh

for withdrawing or depositing cash more than Rs 20 lakh

it will now be mandatory for citizens to quote their PAN card or Aadhaar card number for cash

it will now be mandatory for citizens to quote their PAN card or Aadhaar card number for cash

withdrawals/deposits amounting to ₹20 lakh or more in a single financial year.

withdrawals/deposits amounting to ₹20 lakh or more in a single financial year.

The new rule was announced by the Central Board of Direct Taxes (CBDT) in a notification dated May 10.

The new rule was announced by the Central Board of Direct Taxes (CBDT) in a notification dated May 10.

“The term transactions includes deposit/withdrawal of cash amounting to ₹20 lakh or more in a financial year through one or bank accounts. ,”

“The term transactions includes deposit/withdrawal of cash amounting to ₹20 lakh or more in a financial year through one or bank accounts. ,”

Account(s) not just with commercial bank, but even co-operative bank or post offices

Account(s) not just with commercial bank, but even co-operative bank or post offices

The fresh guideline will also be applicable for the opening of a current bank account or cash credit account by.....

The fresh guideline will also be applicable for the opening of a current bank account or cash credit account by.....

a person with a banking company or a co-operative bank or a post office.

a person with a banking company or a co-operative bank or a post office.

thanks for reading

thanks for reading

click here

click here