New PAN regime comes into effect from today

January 1, 2016

New Delhi, Jan 1: Eyeing to curb black money and widen the tax base, the government has effected changes in rules related to the use of PAN from Friday.

pancard
Under this, quoting the PAN will be mandatory for cash payment to settle hotel bills or buying foreign travel tickets of and above Rs 50,000.

For non-luxury transactions, too, quoting PAN will be required for payment of above Rs 2 lakh in cash or through card. Purchase of jewellery above Rs 2 lakh or immovable property above Rs 10 lakh will also require the same.

Besides, opening of bank accounts other than under the Pradhan Mantri Jan-Dhan Yojana or term deposits with banks exceeding Rs 50,000 at one go will require the PAN. If an individual deposits Rs 5 lakh in a bank, post-office or non-banking financial institution in a year, he or she can to do it only with help of PAN. Twenty types of transactions have been listed by the government which will be regulated under the new PAN regime in the new year.

Those who do not have PAN number are required to fill a one-page form with details of valid proofs of identity and address like Aadhaar and Voter ID for all such transactions.

The move is in line with the government’s aim to curb black money in circulation. The government also aims to widen the tax base by obtaining more information about tax-payers through these measures.

Any false declaration by an individual not possessing the PAN card can earn him up to a seven-year jail term and a hefty fine under income-tax regulations.

The PAN is a 10-digit alphanumeric number issued in the form of a laminated card by the IT department to any person, firm or entity.

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News Network
December 7,2025

Mangaluru, Dec 7: A 34-year-old fruit and vegetable trader in Mangaluru has reportedly lost ₹33.1 lakh after falling victim to an online investment scam run through a fake mobile app.

Police said the scam began in September, when the victim received a link on Facebook. Clicking it connected him to a WhatsApp number, where an unidentified person introduced a high-return investment scheme and instructed him to download an app.

To build trust, the fraudster asked him to invest ₹30,000 on September 24. The trader soon received ₹34,000 as “profit,” convincing him the scheme was genuine. Over the next two months, he transferred money in multiple instalments via Google Pay and IMPS to different scanner codes and bank accounts shared by the scammers. Between September 24 and December 3, he ended up sending a total of ₹33.1 lakh.

When he later requested a refund of his investment and promised returns, the scammers demanded additional payments, claiming he needed to pay a “service tax” first. Even after he paid a small amount, no money was returned, and the scammers continued pressuring him for more.

A case has been registered at the CEN Crime Police Station.

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coastaldigest.com news network
December 20,2025

Mangaluru, Dec 20: City Police Commissioner Sudheer Kumar Reddy has issued a high-alert warning to vehicle owners regarding a surge in cyber fraud targeting those looking to pay traffic violation fines. Fraudsters are reportedly exploiting recent government discount schemes on traffic penalties to deceive citizens.

The Scam: How Fraudsters Strike

Criminals are using SMS, WhatsApp, and social media to circulate suspicious links and APK files (Android application packages). They claim these apps allow users to pay e-challans at a discount.

•    Device Hacking: Downloading these unauthorized apps gives hackers full access to the victim's smartphone.

•    Financial Theft: Once the phone is compromised, fraudsters intercept OTPs and personal data to drain bank accounts.

•    Phishing Sites: Fake websites mimicking official portals are also being used to harvest banking credentials.

Already, two residents within Mangaluru city limits have reported significant financial losses after falling victim to these fraudulent apps.

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News Network
December 20,2025

Mangaluru, Dec 20: The Mangaluru City Police have issued a detailed traffic advisory ahead of the inaugural ceremony of Karavali Utsava, which will be held at the Karavali Utsava Ground on Saturday.

The festival will be inaugurated at 6:00 pm by Dakshina Kannada District Minister Dinesh Gundu Rao. Cultural and public programmes will be held at the venue every evening and will continue until January 2.

According to City Police Commissioner Sudheer Kumar Reddy, parking of vehicles is strictly prohibited on both sides of the road from Lalbagh to Karavali Utsava Ground. Visitors are requested to park their vehicles only at designated parking areas.

To help the public, traffic signboards and parking guidance flex boards have been installed along the routes leading to the venue. The police have urged commuters and visitors to follow these instructions to ensure smooth traffic movement.

Designated Parking Locations

•    Urwa Market Ground – Cars
•    Gandhinagar Government School (near Press Club) – Two-wheelers and cars
•    Ladyhill Church parking area – Two-wheelers and cars
•    Canara School Ground, Mannagudda – Two-wheelers and cars
•    Thimmappa Hotel premises – Two-wheelers and cars
•    Scout and Guide Bhavana premises (behind Karavali Utsava Grounds) – Two-wheelers
•    Urwa Market Road – Two-wheelers
•    Hat Hill Road – Two-wheelers

The police have appealed to the public to cooperate by following traffic rules and parking guidelines to avoid inconvenience during the festival.

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