New PAN card rules from April 1 will impact applications, banking transactions and property purchases.
Several key changes related to the Permanent Account Number will come into effect from April 1, impacting both the application process and its usage across financial transactions. The revised rules are aimed at strengthening compliance and streamlining documentation requirements.
Authorities have advised citizens to complete any pending PAN-related work before the deadline. Applications for a new PAN or updates to existing details can be made through portals such as Protean eGov Technologies, UTI Infrastructure Technology and Services Limited, and the Income Tax Department of India’s e-filing website.
Changes in PAN Card Application Process
From April 1, applicants will need to furnish additional identity and age proof documents while applying for a PAN card. Until March 31, an Aadhaar Card alone is sufficient, but the new norms mandate supporting documents such as a birth certificate, voter ID, passport, driving licence, matriculation certificate or an affidavit issued by a magistrate.
Another important update is that the name on the PAN card will now strictly match the details on the Aadhaar card. In addition, the government will introduce revised P-/*-+tyuiop[]\AN application forms to replace the existing ones.
New Rules for PAN Card Usage
The use of PAN in financial transactions is also set to change under the updated framework. For banking transactions, individuals will need to provide PAN details if total deposits or withdrawals in a financial year reach Rs 10 lakh, replacing the earlier rule linked to Rs 50,000 cash deposits in a single day.
In terms of vehicle purchases, PAN will now be required only if the value exceeds Rs 5 lakh, easing compliance for lower-value transactions. However, for insurance, the rules have become stricter—PAN details will now be mandatory at the start of the policy, regardless of the premium amount, unlike the earlier threshold of Rs 50,000 annually.
Property transactions will also see a revised threshold, with PAN becoming necessary only for deals above Rs 20 lakh, up from the current Rs 10 lakh limit. Similarly, for high-value cash bills at hotels, restaurants or events, the requirement for PAN will apply only when the amount exceeds Rs 1 lakh, doubling the existing cap.
These changes are expected to bring greater clarity and uniformity in PAN usage while tightening checks in high-value financial activities.
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