PAN Rules 2026: Where You Must Quote It Now

India's new Income Tax Rules 2026 have changed when you must quote your PAN. Some transactions got easier — like opening a bank account or applying for a debit card. But property deals and large cash withdrawals now require PAN without exception.

Here's what happened: New Income Tax Rules 2026 remove PAN quoting requirements for several everyday transactions, including cash deposits below thresholds and debit card applications.. PAN is now strictly mandatory for property transactions and annual cash withdrawals exceeding ₹10 lakh from any bank or post office account.. Form 60 — used by people without PAN to declare transactions — is replaced by the new Form 97 under the updated rules..

What you should do: Check if your PAN is linked to your bank account before making any cash withdrawal that could cross ₹10 lakh in a financial year — even across multiple transactions.. Apply for a PAN immediately if you are planning a property purchase or sale in 2025-26 — no exemptions exist for these transactions under the new rules.. Replace any saved copies of Form 60 in your files or office with the new Form 97, which is now the only valid declaration form for PAN-exempt transactions..

The ₹10 lakh cash withdrawal limit is cumulative across the full financial year — not per transaction. Four ₹2.5 lakh withdrawals still trigger the PAN rule.