PAN card mandatory on combined cash deposits above ₹2.5 lakh
The government has made quoting the PAN card mandatory on combined cash deposits exceeding ₹2.5 lakh till December 30. Until now, the limit for cash deposits without PAN was fixed at ₹50,000 per transaction. The move will help government to stop people who are depositing less than ₹50,000 in multiple batches to escape quoting the PAN card.