The Indian government plans to update PAN card rules on April 1, 2026. These shifts are part of the new Income Tax Act 2025. Because of these changes, you must know how your daily spending might be affected. Currently, you can still share your views on these draft rules until February 22, 2026.
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1. New Cash Deposit Limits
Today, you need a PAN to deposit over Rs 50,000 in one day. However, the new plan looks at your total yearly activity instead. Specifically, a PAN will only be mandatory if you deposit more than Rs 10 lakh in a full year. This rule applies to all your bank accounts combined. Consequently, small daily trips to the bank will become much easier for the average person.
2. Buying Cars and Bikes
Vehicle buyers will soon see a major change in paperwork requirements. For instance, the board wants to set a Rs 5 lakh price limit for PAN reporting. Right now, you often need a PAN for almost any car or bike. Under the proposal, cheaper vehicles won’t require these details at all. In fact, this is great news for those buying budget two-wheelers.
3. Higher Limits for Hotel Bills
If you like eating out, you will notice a higher limit for your bills. Currently, the PAN trigger sits at Rs 50,000 for restaurant payments. Therefore, the new rules suggest raising this limit to Rs 1 lakh. Moreover, this higher cap also covers payments for large parties and wedding events.
4. Real Estate Transactions
Property sales will follow a much higher reporting limit very soon. For example, the threshold is moving from Rs 10 lakh to Rs 20 lakh. As a result, small property deals will involve less stress and fewer forms. Actually, the main goal is to reduce work for small buyers in rural areas.
5. Insurance and New Accounts
Finally, rules for insurance companies are getting much tighter. Specifically, you will need to give your PAN for any new account-based deal. Currently, you only need it if your life insurance premium is very high. Additionally, every new policyholder must link their PAN from the start. Furthermore, this helps the government track high-value investments more effectively.
Quick Summary of Proposed Changes
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Banking: Yearly deposits over Rs 10 lakh now require a PAN.
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Vehicles: Only purchases above Rs 5 lakh need these details.
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Dining: Restaurant bills must cross Rs 1 lakh for the PAN trigger.
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Land: Property deals over Rs 20 lakh follow the new reporting rule.
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Policies: All new insurance accounts must be linked to your PAN.
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