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of <h1>Rule 114C Demands PAN Verification for Specified Transactions; Amendments in 2015 and 2017 Refine Process</h1> Rule 114C of the Income-tax Rules, 1962 mandates that certain individuals and entities involved in transactions specified under rule 114B must verify the correct mention of the Permanent Account Number (PAN) or a declaration in Form 60 in relevant documents. This includes registering officers, sellers of immovable property or vehicles, banking officials, stock brokers, and others. They must ensure PAN or Form 60 details are recorded in transaction records and shared with relevant authorities. The rule was amended in 2015 and 2017 to update the classes of persons and the verification process.
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