Government Mandates Stricter Verification for New PAN Card Applications
Applicants are now required to submit additional supporting documents such as birth certificates, voter IDs, or passports to ensure robust identity and DOB verification.
Financial thresholds for mandatory PAN usage have been revised, raising the limit for property transactions to ₹20 lakh and hotel payments to ₹1 lakh.
Impact: These rules aim to eliminate name mismatches between Aadhaar and PAN, thereby reducing fraudulent financial transactions and improving tax compliance.
Key Facts / Static GK
Issuing Authority: Income Tax Department under CBDT
MeitY Secretary: S. Krishnan
Q Practice Quiz — 24 March 2026
1. Regarding the 622nd RBI Central Board meeting, what is the specific timeframe designated for the 'Utkarsh 3.0' Medium-Term Strategy Framework?
Explanation: Utkarsh 3.0 is the RBI's 3-Year Medium-Term Strategy Framework explicitly planned for the period of 2026–2029.
2. Which specific body has been replaced by the newly formed National Dental Commission (NDC) as of March 2026?
Explanation: The National Dental Commission was constituted to modernize dental education by replacing the erstwhile Dental Council of India (DCI).
3. Under the new PAN card rules effective from April 2026, what is the revised threshold for mandatory PAN reporting for property purchase or sale transactions?
Explanation: The revised PAN requirement threshold for property purchase or sale transactions has been increased from the old limit of ₹10 lakh to a new limit of ₹20 lakh.
4. As per the Global Terrorism Index (GTI) 2026, which country is ranked as the most impacted by terrorism globally?
Explanation: The GTI 2026 report ranks Pakistan as the most impacted country (Rank 1) globally.
5. Whose record did PM Narendra Modi surpass to become the longest-serving elected head of government in India as of March 2026?
Explanation: PM Narendra Modi surpassed Pawan Kumar Chamling (former CM of Sikkim), who held the previous record of 8,930 days in office.
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