Now it is necessary to give PAN card on expenditure above Rs 2 lakh, if you forget then fine will be imposed, understand the mathematics

PAN Card News: Every day we do some shopping, big or small. For which online transactions are also done. Small daily purchases are fine, but there are many occasions when purchases worth lakhs are made. While doing transactions, one does not even notice how much goods have been purchased. If you do this then now you will have to control it. Let us tell you why.

If you are a shopaholic and do not pay attention to the bill while shopping, then this is now necessary. Because if you shop for more than Rs 2 lakh, you may face a heavy fine. Especially if you do not have a PAN card, then this will be done strictly. In fact, from now on, if you do any big transaction of Rs 2 lakh or more, then it is necessary for you to have a PAN card.

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PAN is necessary not only for transactions but also for these works
PAN card is not only for filing ITR, but it is used for many other purposes. Let us tell you for which purposes PAN card is necessary:

• If you buy goods worth more than Rs 2 lakh like gold-Silverphone, TV, laptop, fridge etc. then you will need PAN card.
• Even if you are traveling somewhere and the expenditure is more than Rs 2 lakh, it is still mandatory for you to have a PAN card.
• If you buy or sell property worth more than Rs 20 lakh, you will have to provide PAN card.
• PAN card is mandatory for purchasing any vehicle, bike or any other item worth Rs 2 to 5 lakh or more.
• Even if you buy shares worth Rs 1 lakh of an unlisted company, you will have to show your PAN card.
• It is necessary to show PAN while opening a demat account or making any other kind of investment.

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If you don’t have PAN, you will be fined
If you do not have a PAN card while doing any of these things, you may be fined. Without PAN card, the process of any of these works will not proceed. If any wrong information is given in lieu of PAN, then a fine of around Rs 10,000 can be imposed on you. In such a situation, if you are thinking of doing a transaction of more than Rs 2 lakh in the future, then always keep the PAN card with you.