PAN Card Mandatory for Vehicle Purchases Above ₹5 Lakh Across India

PAN Card Mandatory for Vehicle Purchases Above ₹5 Lakh Across India

PAN Card Mandatory for Vehicle Purchases Above ₹5 Lakh Across India In a significant move aimed at strengthening financial transparency, the government has made it mandatory to submit a PAN card for purchasing any vehicle priced above ₹5 lakh . This rule applies across India and marks an important change in vehicle purchase regulations. Rule Applies to Two-Wheelers as Well Earlier, PAN card submission was compulsory only for cars and higher-end vehicles. Under the new regulation, even two-wheelers such as bikes and scooters will require PAN details if their on-road price exceeds ₹5 lakh. This change primarily impacts premium motorcycles and luxury scooters, which were previously outside the PAN compliance framework. Objective Behind the New Rule According to officials, the primary aim of this measure is to curb black money usage in high-value transactions and ensure that such purchases are properly tracked within the income tax system. By linking PAN with expensive vehicle purchases,…