From time to time we often hear about PAN being mandatory for several transactions. The main aim of bringing these provisions are

• to widen the tax base
• to detect high value transactions that might escape tax
• curb black money
• to keep audit trail on persons with luxary life style and cross check their income tax returns

We try to bring all such provisions into one place:-

Finance Minister Arun Jaitley introduced his maiden budget amid much anticipation. People were expecting a drastic budget, wherein the direction of most important legislations impacting India Inc will be decided.

But after the Budget speech, experts believe this is not a populist budget, but at the same time indicating a proper direction for the future.