For which of the following transactions, quoting of Permanent Account Number is mandatory?

CS Executive · Tax Laws and Practice · PYQS · December 2019
For which of the following transactions, quoting of Permanent Account Number is mandatory?
(A) Payment to hotel ₹22,000 on any single day
(B) Deposit of cash in saving bank account of ₹55,000 on any single day
(C) Purchase of property valued at ₹3 lakh
(D) Payment of life insurance premium of ₹25,000

Answer & Explanation:

Correct Answer: Option (B)

Official answer key: (B).

Topics: Income Tax

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