Mandatory requirement of PAN - deposit or withdrawal of amount ...

PAN Mandatory for Bank Transactions Over Rs. 20 Lakhs and New Account Openings u/r 114BA, Section 139A.

May 12, 2022

Act Rules Income Tax

Mandatory requirement of PAN - deposit or withdrawal of amount exceeding Rs. 20 Lacs from bank account / post office account - opening a crrent account or cash credit account with bank or post office - Transactions for the purposes of clause (vii) of sub-section (1) of section 139A - Rule 114BA of the Income-tax Rules, 1962

View Source

← Previous Next →

Mandatory requirement of PAN - deposit or withdrawal of amount ...

PAN Mandatory for Bank Transactions Over Rs. 20 Lakhs and New Account Openings u/r 114BA, Section 139A.

May 12, 2022

Act Rules Income Tax

You may also like:

Rejection of declared transaction value under Valuation Rule 12, re-determination of value under Valuation Rules 4-9. Commissioner followed Rule 9, adopted actual values...

Sections 42 and 43 of the Black Money Act, 2015 impose penalties for failure to disclose foreign income and assets in ITRs by resident and ordinarily resident...

Petitioner sought release of provisionally attached bank accounts, return of seized laptops, CPUs, mobile phones and documents, and refund of Rs. 22 lakh allegedly...

Court set aside auction sale on equitable grounds as entire amount due was deposited by respondents. Appellant deprived of using Rs.81,20,000 from 21.07.2019 till...

Addition of fixed deposits and interest thereon in wife's name was deleted as the Revenue could not controvert that the deposits belonged to the assessee's wife from her...

Application for seeking PAN should be filed at least 7 days prior to enter into specified transaction as referred to in section 139A(3)(vii) read with rule 114BA -...

Unexplained money u/s 69A - Unexplained loan - the loan creditors had deposited cash in their accounts and mostly on the very same day they had transferred the same to...

Revised monetary limits for adjudication of show cause notices in Central Excise for commodities classified under Chapter 24 of Schedule IV (tobacco and tobacco...

Applicability of the Foreign Exchange Regulation Act (FERA) provisions to a non-resident bank and its CEO. The bank was charged with contravening sections 64(2), 6(4),...

Addition u/s 69A - unexplained income - cash deposits made into bank account during demonetization period - assessee neither furnished stock summary nor bills/vouchers...

The Reserve Bank of India (RBI) issued Circular No. 11 on June 11, 2024, allowing Scheduled Commercial Banks with AD Category-I license to open additional current...

The Income Tax Appellate Tribunal allowed the assessee's appeal against the reopening of assessment u/s 148A of the Income Tax Act. The Assessing Officer had alleged...

The High Court quashed the impugned orders, holding that Section 206AA, mandating 20% TDS rate for invalid PAN, was not applicable. The vendor had linked his PAN with...

RBI amended Foreign Exchange Management (Deposit) Regulations, 2016 permitting transfer of funds between repatriable Rupee accounts for bona fide transactions. It...

Contravention of Sections 8(1) and 9(1)(f)(i) of the Foreign Exchange Regulation Act, 1973 - receiving foreign exchange payments in 1996-97 through fake export documents...

Quick Updates: