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of <h1>New Tax Rules Mandate PAN or Form 60 for Bank Accounts by Feb 28, 2017; Updates in Rules 114C, 114D, 114E.</h1> The Income-tax (1st Amendment) Rules, 2017, issued by the Central Board of Direct Taxes, amend the Income-tax Rules, 1962. Effective from their publication date, the amendments require individuals with certain bank accounts to provide their permanent account number (PAN) or Form No. 60 by February 28, 2017. Rule 114C mandates that valid PAN or Form No. 60 details be recorded and linked to transactions. Rule 114D sets a January 15, 2017 deadline for reporting specific transactions. Rule 114E introduces reporting requirements for cash deposits made between April 1 and November 9, 2016. Form No. 61A is updated with new account summary entries.
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