PAN card alert! CBDT issued this important notification - Must know to save Rs 10k penalty
Any resident entities that have made financial transactions worth Rs 2.5 lakh or more in the last fiscal need to apply for a PAN card on or before May 31, according to a notification issued by CBDT last year.
The notification also mentions that people heading these entities should also apply for PAN card if they are not allotted one by May 31 of the fiscal that follows. Source - PTI.