Who exactly are the new rules regarding ‘PAN Card’ for? ‘These’ changes brought transparency in financial transactions

PAN card is required for transactions above the limit
PAN card mandatory for purchase and sale of immovable property
PAN is also important during the purchase of two-wheelers and four-wheelers

Pune: To enhance transparency in financial transactions and curb tax evasion (Business) The Central Government has announced important changes under ‘Input Tax Act 2025’ with effect from 1st April 2026. As per the new rules, for high value financial transactions Pancard (Permanent Account Number) has been made mandatory and the facility of alternative declarations has been stopped.

Earlier, persons without PAN were allowed to do certain transactions by submitting ‘Form 60’. But this discount has been canceled in the new system. Therefore, PAN card will be required for transactions exceeding a certain limit.

PAN card has been made mandatory for buying and selling of immovable property. In the case of house, flat or land transactions worth more than Rs 50 lakh, the registration process cannot be completed without PAN. Also, PAN will have to be presented during the purchase of two-wheelers and four-wheelers.

PAN Card Rules 2026: Getting a PAN card will be difficult now! The new rules will be applicable from April 1

The impact of the new rules will be seen in the banking sector as well. PAN card will be mandatory for cash deposits of more than Rs 50,000 in a day, purchase of foreign currency and large investments in shares, mutual funds and debentures.
Apart from this, it will be necessary to provide PAN information while applying for a credit card or debit card and also in the transaction of hotel bills above Rs 50,000.

Violators may be penalized. Banks and financial institutions have also been instructed not to carry out high value transactions without PAN. According to the central government, the main objective behind this decision is to track every major financial transaction, increase tax collection and control black money transactions. Therefore, citizens who do not yet have a PAN card have been requested to withdraw it immediately.

It is believed that due to this new system, financial transactions will be more transparent, tax evasion will be curbed and honest taxpayers will get the benefit of easier and clearer transaction system.

Lost PAN Card? Don’t worry! Do it at home Reprint, know the complete online-offline process

PAN card mandatory for which transactions?

Purchase and sale of house, flat or land worth more than Rs.50 lakh
Purchase of two wheelers and four wheelers
Depositing more than 50 thousand rupees in cash in one day
Purchase of Foreign Currency
Large investments in shares, mutual funds and debentures
Application for credit card and debit card
Hotel bills of more than 50 thousand rupees
Other high value financial transactions