Aadhar card cash transaction of more than Rs 50000

Now without the PAN, cash transaction of more than Rs 50000, will work with Aadhar

Now for cash transactions of more than 50000 rupees, the base card will be used instead of the PAN card. Apart from this, the base will now be used for all those purposes, where PAN is usually necessary. This information was given by Revenue Secretary Ajay Bhushan Pandey. Pandey said that banks and other institutes where it is mandatory to mention the PAN, there will be backend upgrades to accept the basis.

Explain that in 2019, Finance Minister Nirmala Sitharaman proposed to make pan and base interchangeable for the convenience of taxpayers. Also, it was proposed to use the base instead of the PAN to file an ITR. It was also said that wherever there is a need to mention the PAN, work can be done through the base number.

To curb black money, it is compulsory to mention the PAN for hotel or foreign travel bill, such as cash transactions of more than Rs 50000. Besides, the purchase of immovable property of more than Rs 10 lakh is also required to be paid.

WILL AADHAR TAKE OVER PAN?

When asked if the use of the pan will come to an end, he said that it will not happen as people have the option to provide either the PAN or the Aadhaar number at the place of need. 
Some people find it convenient to give pan, then to give some support. Therefore both pan and base will be. But every pan in the backend will be the basis.