Major Changes in PAN Rules from April 1: Income Tax Act 2025 Simplifies Compliance

Major Changes in PAN Rules from April 1: Income Tax Act 2025 Simplifies Compliance

Major Changes in PAN Rules from April 1: Income Tax Act 2025 Simplifies Compliance Big Relief for Taxpayers: PAN Rules to Change from April 1 Under Income Tax Act 2025 Significant changes to PAN (Permanent Account Number) regulations will come into effect from April 1 under the newly introduced Income Tax Act 2025 . The revised framework aims to simplify tax compliance and reduce procedural burdens for individuals and businesses. Banking Transaction Limit Revised One of the major reforms includes the removal of the existing daily transaction limit of ₹50,000 for certain banking operations requiring PAN disclosure. Instead, a revised annual threshold of ₹10 lakh has been introduced. This shift is expected to streamline routine financial transactions and reduce repeated documentation requirements for individuals. Higher PAN Limit for Property Transactions The government has increased the PAN requirement threshold for property purchases to ₹20 lakh . This revision is expected to ease compl…