In the proposed Finance Bill 2018, Gov. of India made 10-digit Permanent Account Number (PAN) mandatory for entities entering into a financial transaction of ₹2.5 lakh or more, effective from April 1, 2018. "It is proposed that every person, not being an individual, which enters into a financial transaction of an amount aggregating to ₹2.50 lakh or more in a financial year shall be required to apply to the Assessing Officer for allotment of PAN," it said.
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