New Pan Rules to Tighten Financial Tracking

A major overhaul of pan-related rules comes into effect from April 1, with the Indian Government tightening norms to track high-value transactions and curb tax evasion. The new framework expands the role of pan across financial activities, while also revising thresholds for cash, property, and luxury spending. From applying for a pan card to making big-ticket purchases, the changes will impact millions of taxpayers and businesses across India. The motive behind these changes is to bring more transactions into the formal economy and improve transparency. Let’s look what these changes are.