Consider the following statements in respect of PAN (effective from January 1, 2016) Quoting PAN is mandatory for cash payments made to settle hotel bills or for buying foreign travel tickets of an amount above Rs. 50,000. The PAN requirement for non-luxury cash transactions is Rs. 2 lakh PAN for making post office deposit of over Rs 50, 000 has been dispensed with. PAN is mandatory on the purchase of immovable property of Rs 10 lakh. The correct answer is

Consider the Following Statements in Respect of Pan (Effective from January 1, 2016) Quoting Pan is Mandatory for Cash Payments Made to Settle Hotel Bills Or for Buying Foreign Travel Tickets of an - Current Affairs Including General Knowledge

MCQ

Consider the following statements in respect of PAN (effective from January 1, 2016)

Quoting PAN is mandatory for cash payments made to settle hotel bills or for buying foreign travel tickets of an amount above Rs. 50,000.
The PAN requirement for non-luxury cash transactions is Rs. 2 lakh
PAN for making post office deposit of over Rs 50, 000 has been dispensed with.
PAN is mandatory on the purchase of immovable property of Rs 10 lakh.

The correct answer is

l, ll, lll, and lV

Explanation: All the statements are true.

Concept: Economic Current Affair (Entrance Exam)

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