Try GOLD - Free
Draft I-T rules raise limit for quoting PAN
Financial Express Kochi
|February 10, 2026
THE INCOME TAX department has proposed to significantly raise the threshold for mandatory Permanent Account Number (PAN) quoting for gifts and immovable property, cash deposits/withdrawals and purchase of vehicles under the draft Income Tax Rules, 2026.
THE INCOME TAX department has proposed to significantly raise the threshold for mandatory Permanent Account Number (PAN) quoting for gifts and immovable property, cash deposits/withdrawals and purchase of vehicles under the draft Income Tax Rules, 2026.
The Central Board of Direct Taxes (CBDT) is likely to notify the draft Income Tax (IT) rules by the first week of March, official sources said on Monday. However, taxpayers filing income tax returns for assessment year (AY) 2026-27 will continue to use the current forms and rules prescribed under the Income Tax Act, 1961, sources said.
“The advance taxes in FY27 are to be filed under the new rules and forms,” a CBDT source said.
The CBDT on Saturday released the draft IT rules 2026, aligned with the new Income-Tax Act, 2025, which is set to take effect from April 1.
This story is from the February 10, 2026 edition of Financial Express Kochi.
Subscribe to Magzter GOLD to access thousands of curated premium stories, and 10,000+ magazines and newspapers.
Already a subscriber? Sign In
MORE STORIES FROM Financial Express Kochi
Financial Express Kochi
RIL arm inks deal with Nigerian group
RELIANCE CONSUMER PRODUCTS (RCPL), the FMCG arm of Reliance Industries, on Monday said it has signed a definitive agreement to form a majority-owned joint venture with Nigerian conglomerate Tropical General Investments Group.
1 mins
February 17, 2026
Financial Express Kochi
US to cut reciprocal tariff this week: Commerce secy
INDIA’S CHIEF NEGOTIATOR TO VISIT THE US NEXT WEEK
2 mins
February 17, 2026
Financial Express Kochi
Exports of marine items increase 15% in Apr-Jan
DESPITE BEING HIT by the high US tariffs, India’ marine products exports increased by over 15% to $7.17 billion in April-January 2025-26, due to a huge surge in shipments to several new markets such as Vietnam and the European Union (EU), according to commerce ministry officials.
1 min
February 17, 2026
Financial Express Kochi
JSW MG lines up ₹4,000 cr to triple its India capacity
FIRM TO FUND INITIAL PHASE OF EXPANSION VIA INTERNAL ACCRUALS
2 mins
February 17, 2026
Financial Express Kochi
Akash Ambani showcases Jio's tech platforms
PRIME MINISTER NARENDRA Modi visited the Jio Intelligence Pavilion at the India AI Impact Summit 2026,where he reviewed a range of Al-powered models and solutions.
1 mins
February 17, 2026
Financial Express Kochi
Eurozone finance chiefs seek bigger role of euro
BENEFITS OF SINGLE CURRENCY
1 mins
February 17, 2026
Financial Express Kochi
Unesco flags governance, inclusion gaps in AI readiness
WHILE INDIA'S
1 min
February 17, 2026
Financial Express Kochi
Youth unemployment rate rises to 14.7% in January
Joblessness in urban areas at 7%
2 mins
February 17, 2026
Financial Express Kochi
'Al is now driving early disease detection'
ANKIT MODI, FOUNDING MEMBER & CHIEF PRODUCTS OFFICER, QURE.AI
2 mins
February 17, 2026
Financial Express Kochi
Desi AI: A blueprint for leadership
ANTHROPIC'S RELEASE OF Claude Cowork and Claude Code triggered a sharp dip in Indian IT stocks, signalling a vastly changed technology ecosystem. India’s manpower-intensive services companies are clearly under threat from artificial intelligence (AI), anda transition to an intellectual property-driven future leveraging Alis now an existential necessity. When confronted in Davos recently with the label “second-tier AI power”, Union Technology Minister Ashwini Vaishnaw gave a thoughtful riposte, laying out a layered AI taxonomy and arguing that leadership in many of the layers makes India decidedly not second tier. While this assertion is sound, the underlying anxiety is real—Indians aspire to a indigenous or desi AI that is an unequivocal global leader. The key question about realising this aspiration is not if the government should be involved, but how. We answer this through a careful examination of historical successes and failures in governance of technology development—from Tokyo to Washington, and from Centre For Development Of Telematics (C-DoT) to United Payments Interface (UPI).
3 mins
February 17, 2026
Listen
Translate
Change font size