Income Tax Draft Rules 2026: New PAN Limits for Cash, Vehicles, Property
Income Tax Draft Rules 2026: New PAN Limits for Cash, Vehicles, Property
- •Income Tax Draft Rules 2026 propose allowing cash withdrawals and deposits up to Rs 10 lakh annually without PAN.
- •Currently, PAN is mandatory for cash deposits exceeding Rs 50,000 in a day; no aggregate annual limit for withdrawals.
- •The new rules, part of the Income Tax Act, 2025, are open for public review until February 22.
- •PAN now required for vehicle purchases above Rs 5 lakh and immovable property transactions exceeding Rs 20 lakh.
- •PAN no longer needed for hotel bills below Rs 1 lakh; mandatory for insurance company account relationships.
