PAN Card to be mandatory for cash transactions:

The Centre is at an advanced stage to make it mandatory for people to furnish PAN Card details for cash transactions beyond a certain limit to check generation of domestic black money.

Finance Minister Arun Jaitley, in a Facebook post, said the government is at an advanced stage in considering the requirement of furnishing PAN Card details if cash transactions beyond a certain limit are undertaken. He said the monitoring regime of the income tax department has been strengthened and its capacity to access information and apply technology driven analytical tools to expose evasion has been enhanced. Stressing that bulk of black money is still within India, Jaitley said, “There is a need to change the national attitude so that plastic currency becomes the norm and cash an exception.”