Permanent Account Number.

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.... receipts are or is likely to exceed Rs. 500000 in any tax year; or (c) he is required to furnish a return of income under section 263 for any tax ^1[year; or] (d) he is a resident, other than an individual, which enters into a financial transaction aggregating to Rs. 250000 or more in a tax year; or (e) he is the managing director, director, partner, trustee, author, founder, karta, chief executive officer, principal officer or office bearer of the person referred to in clause (d) or any person competent to act on behalf of the person referred to in clause (d); or (f) he intends to enter into such transaction as may be prescribed by the Board in the interest of revenue. (2) Any person, not covered und....

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....umber in lieu of the Permanent Account Number, and such person shall be allotted a Permanent Account Number in the manner, as may be prescribed; (b) has been allotted a Permanent Account Number, and who has intimated his Aadhaar number as per sub-section (6) may furnish or intimate or quote his Aadhaar number in lieu of the Permanent Account Number. (8) A person who has already been allotted a Permanent Account Number cannot apply, obtain or possess another Permanent Account Number. (9)(a) Every person entering into such transaction, as may be prescribed, shall quote his Permanent Account Number or Aadhaar number, in the documents pertaining to such transactions and also authenticate such Permanent Account Number or Aadhaar n....

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....ass or classes of persons in clause (a) may include such persons-- (i) by whom tax is payable under this Act; or (ii) by whom any tax or duty is payable under any other law in force; or (iii) being importers and exporters, even when no tax is payable by them. (12) The provisions of sub-sections (5) and (6) shall not apply to such person or class or classes of persons or any State or part of any State, as may be notified by the Central Government. (13) For the purposes of this section,- (a) "Aadhaar number" shall have the same meaning as assigned to it in section 2(a) of the Aadhaar (Targeted Delivery of Financial and Other Subsidies, Benefits and Services) Act, 2016 (18 of 2016); (b) "Asses....