Quoting of Pan number mandatory

[madhavvan n]

In terms of Section 206AA of Income Tax Act, 1961206(5) effective from 01/04/10 as under: The deductee shall furnish his Permanent Account Number to the deductor and both shall indicate the same in all the correspondence, bills, vouchers and other documents which are sent to each other. In view of the above provision whether it is compulsory to quote the PAN Nos in all correspondence like vouchers , bills since earlier this wording was not mentioned now whether this is compulsory to quote the above

AI Summary

Is Quoting PAN Mandatory in Business Documents? Section 206AA of Income Tax Act Says Yes Since 2010. A forum discussion addressed whether quoting a Permanent Account Number (PAN) is mandatory in all business-related documents following the implementation of Section 206AA of the Income Tax Act, 1961, effective from April 1, 2010. The consensus, provided by a participant, confirmed that it is indeed mandatory to include the PAN in all relevant documents such as correspondence, bills, and vouchers. This requirement aims to enhance the identity verification process and build confidence among government officials, while also avoiding potential penalty proceedings for non-compliance.