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of <h1>Finance Act 2006 amends Section 139A: New PAN rules, quarterly statement changes, and expanded authority for Assessing Officers.</h1> The Finance Act, 2006 amends Section 139A of the Income-tax Act, introducing several changes effective from June 1, 2006, and April 1, 2007. A new sub-section (1B) allows the Central Government to mandate specific classes of persons to apply for a permanent account number (PAN) for information collection. Sub-section (2) permits the Assessing Officer to allot PANs to any person, regardless of tax liability. Amendments to sub-sections (5B), (5C), and (5D) involve changes in terminology and requirements for quarterly statements, replacing 'seller' with 'person responsible for collecting tax,' and specifying the inclusion of PAN details in these statements.
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