Several significant changes related to the Permanent Account Number (PAN) will come into effect starting April 1. These changes will impact how a PAN is obtained and how it is utilized in financial transactions. The objective behind these revised regulations is to enhance regulatory compliance while simultaneously simplifying documentation requirements. Notably, from April 1 onwards, an Aadhaar card alone will no longer suffice for obtaining a PAN. Applicants will be required to submit additional documents to verify their identity and date of birth.

Documents Required for PAN
The list of acceptable documents includes a birth certificate, Voter ID, Class 10 certificate, passport, driving license, or an affidavit issued by a magistrate. This change implies that individuals applying for a PAN must keep these documents ready in advance to avoid any delays in the processing of their application. Another crucial requirement is that the name printed on the PAN card must now match exactly with the details recorded on the Aadhaar card. Applicants will also be required to use specific forms corresponding to their respective categories: Form 93 for individuals, Form 94 for companies, Form 95 for foreign nationals, and Form 96 for foreign entities.

New Rules for PAN Card Usage
Deposits and Withdrawals: Effective April 1, PAN details will be required only when the aggregate deposits or withdrawals within a financial year exceed ₹10 lakh. Currently, providing PAN details is mandatory for cash deposits of ₹50,000 or more made in a single day.

Vehicle Purchases: Currently, providing PAN details is mandatory for the purchase of most vehicles. Under the revised regulations, PAN details will be required only if the value of the vehicle exceeds ₹5 lakh.

Insurance Policies: Currently, providing PAN details is mandatory only when the annual premium exceeds ₹50,000. Going forward, providing PAN details will be mandatory at the time of purchasing any insurance policy, regardless of the premium amount. Property Transactions: The current threshold of ₹10 lakh—which mandates the furnishing of PAN details in property deals—will be raised to ₹20 lakh, effective from April 1.

Bills (Hotels, Restaurants, Events): Currently, providing PAN details is mandatory for cash payments exceeding ₹50,000. Under the new regulations, this limit will be increased to ₹1 lakh.
Points to Keep in Mind When Applying for a PAN

To avoid any discrepancies, verify your Aadhaar details (specifically your name) in advance.

Keep essential documents—such as your Birth Certificate, Passport, or Voter ID—ready at hand.
Ensure that these documents clearly validate your identity and date of birth.

Use only the revised PAN application form that comes into effect on April 1, 2026.

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