In an attempt to curb black money the Government has made PAN mandatory for all financial tractions ...........

General Knowledge (CLAT) Economy

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

4 lakhs

3 lakhs

2 lakhs

1 lakhs

Explanation:

You will have to flash your permanent account number (PAN) for any transaction of over Rs 2 lakh regardless of mode of payment. The government has issued a notification to give effect to the budget proposal, intended to check domestic black money, apart from modifying the rules for PAN requirement for other transactions as well.