State whether quoting of PAN in the following transaction is mandatory or not, as per the provisions of Income Tax Act, 1961 for A.Y. 2019-20: A makes payment to Hotel Radisson Ahmedabad of ₹50,000 against the bill raise
CS Executive · Tax Laws · PYQS · June 2019
State whether quoting of PAN in the following transaction is mandatory or not, as per the provisions of Income Tax Act, 1961 for A.Y. 2019-20: A makes payment to Hotel Radisson Ahmedabad of ₹50,000 against the bill raised by the Hotel. Your answers must be supported with reasons.
Answer & Explanation:
PAN not required to be quoted: Mr. A is not required to quote his PAN while making payment of ₹50,000 in cash to a hotel Radisson Ahmedabad since such payment does not exceeds ₹50,000.
Topics: Income Tax Act, 1961
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