PAN Must for Cash Payment of Hotel Bill over Rs 50,000 from Tomorrow

Furnishing PAN has been made mandatory from tomorrow i.e. 1-1-2016  for cash transactions such as hotel or foreign travel bills exceeding Rs 50,000. Department of Income Tax has made it mandatory under Rule 114B of the Income-tax Rules to quote PAN where transactions exceed a specified limit.

Sources: Manupatra Newsline