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of <h1>Finance Bill 2019: Amendments to Section 139A Allow PAN and Aadhaar Interchangeability for High-Value Transactions.</h1> The Finance Bill 2019 proposes amendments to section 139A of the Income Tax Act to allow the interchangeability of PAN and Aadhaar numbers. Individuals entering high-value transactions without a PAN must apply for one, but may use their Aadhaar number instead. The amendments require quoting either PAN or Aadhaar in specified transactions and ensure proper authentication. A new sub-section mandates that documents related to these transactions must include the quoted PAN or Aadhaar number. Penalties for non-compliance are also revised. These changes aim to expand the tax base and will be effective from September 1, 2019.
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