CMA Intermediate · Direct and Indirect Taxation · PAN
The rule-making power in section 533(2)(h) links the transactions requiring PAN quoting to a particular section of the Act. Which section is that?
The link is to section 262. Section 533(2)(h) says rules may prescribe the transactions with respect to which a Permanent Account Number shall be quoted on documents relating to them under section 262. The other sections cited relate to returns, audit reports and the Approving Panel.
- ASection 262Correct
- BSection 263
- CSection 268
- DSection 274
Explanation
Clause (h) refers to the transactions with respect to which PAN shall be quoted on documents under section 262. Section 263 deals with return furnishing in clauses (i) to (k), section 268 with audit reports, and section 274 with the Approving Panel.
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