Permanent Account Number is Mandatory :

As per budget 2015-16, Permanent Account Number is mandatory for every purchase more than :

  1. Rs. 2 lac
  2. Rs. 1.5 lac
  3. Rs. 2 lac
  4. Rs. 3 lac

 

Anurag Mishra Professor Asked on 22nd September 2015 in Finance.
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    Correct Answer is 1 lakh

    As per budget 2015-16, Permanent Account Number is mandatory for every purchase more than 1 Lakh. Finance Arun jaitely give a speech during the Budget “Quoting of PAN is being made mandatory for any purchase or sale exceeding the value of Rs. 1 lakh. The third party reporting entities would be required to furnish information about foreign currency sales and cross border transactions”

    Monis Rasool Professor Answered on 23rd September 2015.
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