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

Advertisements
Advertisements
MCQ

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

  1. 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.
  2. The PAN requirement for non-luxury cash transactions is Rs. 2 lakh
  3. PAN for making post office deposit of over Rs 50, 000 has been dispensed with.
  4. PAN is mandatory on the purchase of immovable property of Rs 10 lakh.

The correct answer is

Options

  • I and II

  • l, ll, and lV

  • ll, lll, and lV

  • l, ll, lll, and lV

Advertisements

Solution

l, ll, lll, and lV

Explanation: All the statements are true. 

Concept: Economic Current Affair (Entrance Exam)
  Is there an error in this question or solution?

RELATED QUESTIONS

Choose the most appropriate option:

In an attempt to curb black money, the Government has made PAN mandatory for all financial transactions exceeding Rupees:


Choose the most appropriate option:

In 2015, Prime Minister Mr. Narendra Modi launched a new campaign, "Start up India, Stand up India". The campaign is aimed at:


Mark the best option:
Which of the following is not associated with the UNO?


What does ‘NITI’ in Niti Ayog stand for?


The scarcity definition of economics is credited to


India's economic planning CANNOT be said to be:


Mark the best option:
State-run General Insurance Corporation of India in association with non-life insurance companies unveiled the Insurance policy for which sector first of its kind in India?


Mark the best option:
Centre has mandated Aadhaar for receiving subsidized food grains from PDS shops. What is the deadline set by the government to apply for Aadhaar by those not having the same yet?


Which e-commerce company has made its maiden entry in the Thomson Reuters top 100 Global Innovators list 2015?


The 8th BRICS Summit (2016) is proposed to be held in


Choose the appropriate alternative.
How many banks have merged with SBI with effect from October 2017?


Free Trade Area means


The author of the management principle - In a hierarchy,  every employee tends to rise to his level of incompetence


If the tax rate increases with a higher level of income, it  shall be called


The Theory of Economic Drain from India to England was propounded by


In 2012-13, India's target is to restrict the fiscal deficit to x%  of the GDP, where x is:


In the name P Chidambaram, the present Union Finance  Minister, what does 'P' stands for?


Which one of the following measures is not likely to aid in improving India's balance of payment position?


Economic growth rate projected by the IMF for India in the  fiscal year 2014-15 is


What is known as Jasmine Revolution?


In the context of the banking sector in India, what does 'G' stand for in 'RTGS'?


ln which year was the National Bank for Agriculture and Rural Development Bank (NABARD) established?


Fiscal policy helps the government of a country to control the flow of ______.


When was Reserve Bank of India established?


The Cabinet Committee on Economic Affairs (CCEA) increased the Minimum Support Prices (MSPs) of cotton (long staple) to ₹ _______ per quintal for marketing season 2020-21.


Which country is hosting the World Sustainable Development Summit 2022?


Pierre-Olivier Gourinchas has been named as the new Chief Economist of which international body?


The currency of which of this country is NOT Euro?


The G-20 group has how many members as its leaders?


World Trade Organization came into existence in ______.


Share
Notifications



      Forgot password?
Use app×