New Income Tax Rules: PAN Mandatory for More Transactions from April 1

• Draft Income Tax Rules, 2026 propose changes to PAN usage in financial transactions.
• PAN mandatory for vehicle transactions over Rs 5 lakh, including two-wheelers (excluding tractors).
• Hotel/restaurant cash payment PAN limit increased to Rs 1 lakh from Rs 50,000.
• PAN mandatory for all account-based relationships, impacting life insurance premiums.
• Property transaction PAN limit increased to Rs 20 lakh from Rs 10 lakh; cash withdrawal reporting limit reduced to Rs 10 lakh.