PAN Must for Rs 50,000 Cash Payment to Settle Hotel Bills, Foreign Airfare

New Delhi: Quoting PAN will be mandatory from January 1 for cash payment made to settle hotels bills or for buying foreign travel tickets of Rs 50,000 as the government tightened disclosure norms to check generation of domestic black money. The PAN requirement for non-luxury cash transactions will be Rs 2 lakh. (Read more) However, in a relief to small investors, the requirement of furnishing PAN for making post office deposit of o...