income limit for pan card

179 views 3 replies

student

36 Points Joined August 2012

As the limit for tax increased to 5 lakhs for A.Y. 2019-20, do we need to apply for pan card above ₹ 2.5 lakhs or is it 5 lakhs?

Replies (3)

Practicing Chartered Accountant

2481 Points Joined June 2013

Yes, you have to apply for PAN card for above 2.5L since the basic exemption limit has been not increased.

Note that benefit of 5Lakh is through Rebate and not through Basic Exemption limit

student

36 Points Joined August 2012

"Do the Right Thing...!!!"

128147 Points Joined January 2015

The said limit applicable from AY 20-21 (FY 19-20).

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