PAN requirement broadened to cover resident entities and their responsible officers for significant financial transactions.

The amendment adds two identification categories under the PAN provisions: resident non-individuals undertaking financial transactions above a prescribed annual threshold, and specified responsible officers or persons competent to act for such entities; it also inserts the conjunctive "or" to integrate these clauses into the clause sequence and removes the phrase "issued in the form of a laminated card" from the Explanation to the relevant sub-section.

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