PAN Application Rules Change From April 1, 2026: Aadhaar Alone Won’t Be Enough Indian citizens have until March 31, 2026, to apply for a PAN card using only an Aadhaar card. Starting April 1, 2026, additional documents such as proof of date of birth (DOB) will be required, and the PAN name must match the Aadhaar details. This change aims to strengthen compliance and track financial transactions more effectively. The new rules, effective from April 1, 2026, will increase the threshold for mandatory PAN details in various financial activities. For cash deposits, the current limit of Rs 50,000 per day will be replaced with an annual cap of Rs 10 lakh. If an individual deposits more than this amount in a financial year, PAN details will be mandatory across all bank accounts. When purchasing or selling motor vehicles, PAN will only be required for vehicles valued above Rs 5 lakh. Previously, PAN was mandatory for all vehicle transactions, regardless of price. Similarly, hotel and restaurant payments will now require PAN details only for transactions exceeding Rs 1 lakh, up from the current Rs 50,000 threshold. Immovable property transactions, such as buying or selling real estate, will also see changes. The existing limit of Rs 10 lakh for PAN requirements will be doubled to Rs 20 lakh. For insurance policies, PAN details will be mandatory for premiums exceeding Rs 50,000, with potential expansion to cover broader account-related dealings. Applicants applying for a PAN card after March 31, 2026, will need to provide proof of DOB. Acceptable documents include a birth certificate, voter ID, matriculation certificate, driving license, passport, or an affidavit from a magistrate. The name on the PAN card will now strictly align with Aadhaar details, and old PAN forms will no longer be valid.#india #aadhaar #financial_transactions #income_tax_department #pan_card
