New PAN Quoting Rules 2026: Full List of Revised Thresholds Explained
Quick Summary Box
| Particulars | Details |
|---|---|
| Governing Rules | Rules 161/162 (replacing old Rule 114B), Income-tax Rules, 2026 |
| Notified Via | Notification No. 22/2026, dated 20 March 2026 |
| Effective From | 1 April 2026 |
| Core Shift | Daily transaction limits → Annual aggregate thresholds |
| Form 60 Replacement | Form No. 97 (for persons without PAN) |
| Penalty for Non-Compliance | ₹10,000 under Section 272B-equivalent provision, per instance |
The Big Structural Change: Daily Limits Are Gone
For decades, PAN quoting for cash transactions was triggered by a ₹50,000 per-day limit at the bank counter — meaning a taxpayer making three separate ₹40,000 deposits in a week never had to quote PAN, even though the aggregate easily crossed meaningful thresholds. The Income-tax Rules, 2026 close this gap by shifting to annual aggregate thresholds, tracked through the department’s SFT (Statement of Financial Transactions) reporting and AI-driven data analytics — reducing friction for routine transactions while tightening oversight on genuine high-value activity.
Revised Thresholds — Complete Reference Table
| Transaction Type | Old Threshold | New Threshold (2026) |
|---|---|---|
| Cash deposits/withdrawals (bank) | ₹50,000 per day | ₹10 lakh aggregate per financial year |
| Immovable property (PAN quoting) | ₹10 lakh | ₹20 lakh |
| Immovable property (reporting limit) | ₹30 lakh | ₹45 lakh |
| Mutual fund investment | ₹50,000 | ₹50,000 (unchanged) |
| Fixed Deposits | ₹50,000 | ₹50,000 single / ₹5 lakh aggregate/year |
| Unlisted shares / securities (excl. shares) | Not separately specified | ₹1 lakh per transaction |
| Vehicle purchase (incl. two-wheelers, newly covered) | ₹5 lakh (four-wheelers only) | ₹5 lakh (now includes high-value two-wheelers) |
| Hotel/restaurant bill | ₹50,000 | ₹1 lakh per bill |
| Insurance premium (reporting) | Not specified | ₹5 lakh (with PAN) / ₹2.5 lakh (without PAN) |
| Stamp paper purchase via SHCIL | Not specified | ₹2 lakh (with PAN) / ₹1 lakh (without PAN) |
Note: verify exact figures against the notified text of Rules 161/162 before relying on this table for client advisory — cross-check against Notification No. 22/2026 and any subsequent corrigenda, as multiple secondary sources report slightly varying figures for a few line items.
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