New Rules On PAN Card: New rules related to use of PAN will be applicable from April 1, know where it will have to be given now?

New Delhi. New income tax rules are going to come into effect from April 1 this year. Along with this, new rules related to the use of PAN card will also be applicable. In the draft of the new Income Tax Rules 2026 issued by the Central Government, it has been told where PAN card will now have to be given. The government had earlier got the new Income Tax Rules 2026 passed by the Parliament. According to the draft of the new Income Tax rules, now it will be necessary to provide PAN number if you withdraw and deposit Rs 10 lakh or more cash from one or the other bank account in a year. Till now, PAN number had to be given for depositing or withdrawing more than Rs 50,000.

In the draft of the new income tax rules, it has been said that PAN card will have to be given when taking a plan from the insurance company. Till now, PAN was asked only if the premium was more than Rs 50,000. From April 1, you will have to provide PAN number if you purchase a vehicle worth more than Rs 5 lakh. Till now, PAN card had to be given for purchasing all vehicles. According to the draft of the new Income Tax rules, it has been made mandatory to provide PAN even when purchasing property worth more than Rs 20 lakh. Till now, it was mandatory to provide PAN number for purchasing property worth more than Rs 10 lakh. Apart from this, PAN card will have to be given if the bill for hotel, restaurant, banquet etc. is more than Rs 1 lakh. Till now its limit was fixed at Rs 50,000.

It has been said in the draft of the new income tax rule that it will be implemented after taking the opinion of the common people. It is believed that CBDT may issue a notification to implement the new income tax rules in March. If the new rules related to PAN card are implemented, it will be very convenient for those who have low income and spend money. They will be exempted from not giving PAN number for small transactions and purchase of vehicles etc. At the same time, those investing in crypto currency will now have to provide PAN number. The government intends to ensure that the common people do not face any problems and those who evade tax in the name of investment can also be caught.

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