Aditya Bhattachrya Quoted in Outlook Money on Draft Income Tax Rules Revising PAN Thresholds

Aditya Bhattachrya has been quoted in Outlook Money in its recent feature titled “Draft Income Tax Rules Raise PAN Limits, Target High Value Transactions.”

Commenting on the proposed changes to PAN quoting requirements, Aditya Bhattacharya observed:

“Earlier, PAN quoting requirements applied at relatively low transaction values, such as cash deposits exceeding Rs 50,000 in a single day, purchase of any four-wheeler irrespective of value, or modest expenditure on hotels and events. These lower thresholds often resulted in widespread reporting, even for ordinary personal or business transactions, increasing documentation and compliance burdens without necessarily improving tax intelligence.”

He further noted that the proposed draft rules signal a policy shift towards rationalising compliance obligations by focusing on genuinely high-value transactions, thereby reducing unnecessary reporting while strengthening targeted tax oversight.

Read more at: https://www.outlookmoney.com/tax/draft-income-tax-rules-raise-pan-limits-target-high-value-transactions