From April 1, new PAN application rules under the Income-tax Act 2025 take effect. Category-specific PAN forms will replace the earlier Aadhaar-only option, and mandatory PAN quoting expands for high-value transactions like large cash deposits and property deals. Taxpayers may also need extra documents when applying, making compliance more important than ever.
From April 1, 2026, India’s new Income Tax Act and Rules will reshape ITR filing for Tax Year 2026-27. Some taxpayers get extended ITR due dates, while deadlines for updated and revised returns are revised. The rules also expand where PAN quoting becomes mandatory, aiming to improve compliance and streamline filing.
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The Income Tax Department has replaced Form 60 with a new Form 97 for people without a PAN who complete certain transactions. This includes buying property above Rs 20 lakh up to Rs 45 lakh, opening bank accounts, and making specific cash payments. The change is meant to streamline compliance and reduce reporting for these declarations.
The Central Board of Direct Taxes has notified new PAN correction forms for updating PAN-related details. Individuals must use PAN CR-01 while non-individuals will file PAN CR-02. The changes take effect from April 1, 2026, with both online and offline submission options. Applicants must submit accurate PAN details and a copy of their PAN card, and Aadhaar is mandatory for most users.
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