AILET 2016 BA LLB Question Paper with answer key for online practice
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Question : 47 of 150
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Consider the following statements in respect of PAN (effective from January 1,2016)
I. Quoting PAN is mandatory for cash payments made to settle hotel bills or for buying foreign travel tickets of an amount above Rs 50, 000
II. The PAN requirement fornon-luxury cash transactions is Rs 2 lakh
III. PAN for making post office deposit of over Rs 50, 000 has been dispensed with.
IV. PAN is mandatory on purchase of immovable property of Rs 10 lakh The correct answer is
I. Quoting PAN is mandatory for cash payments made to settle hotel bills or for buying foreign travel tickets of an amount above Rs 50, 000
II. The PAN requirement fornon-luxury cash transactions is Rs 2 lakh
III. PAN for making post office deposit of over Rs 50, 000 has been dispensed with.
IV. PAN is mandatory on purchase of immovable property of Rs 10 lakh The correct answer is
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