New Delhi, Feb. 24 -- Earlier this month, the Central Board of Direct Taxes (CBDT) released the draft income tax rules, which are scheduled to come into force from 1 April 2026. The draft rules propose changes to the limits on mandatory quoting of the taxpayer's Permanent Account Number (PAN).

While these proposals are still under consideration, they signal an effort to ease compliance for routine transactions while maintaining strict oversight over high-value cash transactions.

"The objective behind revising the PAN quoting norms appears to be to align compliance requirements with present-day economic realities. The idea is to ease the reporting burden for routine transactions, while at the same time tightening monitoring of high-value...