PAN, Aadhaar now mandatory for cash deposits, withdrawals above this amount in banks, post office

The Central Board of Direct Taxes (CBDT) has issued a notification on May 10, 2022 specifying new rules related to cash transactions i.e., deposits and withdrawals with bank, post and co-operative banks. The new rulesmake quoting of PAN or Aadhaar number mandatory. The new rules for cash transactions are effective from May 26, 2022. Read on to know more about these cash transactions.

from Tax-Wealth-Economic Times https://ift.tt/ULc6JSn