As of 8 November 2026, under Rule 159 of the Income-tax Rules, 2026, which transaction does not require…
Buying the home does not require PAN quotation under Rule 159 because neither the price nor the stamp valuation exceeds ₹20,00,000. A motor car costing more than ₹5,00,000,…
Choose your answer
As of 8 November 2026, under Rule 159 of the Income-tax Rules, 2026, which transaction does not require a resident individual to quote their Permanent Account Number (PAN)? Assume the individual has a PAN and belongs to no exempt class.
Answer and explanation
Correct answer D
Buying the home does not require PAN quotation under Rule 159 because neither the price nor the stamp valuation exceeds ₹20,00,000. A motor car costing more than ₹5,00,000, a mutual fund payment over ₹50,000 and opening a regular savings account each trigger quotation.
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West Bengal SET (WB SET)