Consider the following statements in respect of PAN (effective from January 1, 2016) I. Quoting PAN is mandatory for cash payments made to settle hotel bills or for buying foreign travel tickets of an amount above Rs 50, 000 II. The PAN requirement for non-luxury cash transactions is Rs 2 lakh III. PAN for making post office deposit of over Rs 50, 000 has been dispensed with. IV. PAN is mandatory on purchase of immovable property of Rs 10 lakh The correct answer is:

Option A: I and II

Option B: I, II and IV

Option C: II, III and IV

Option D: I, II, III and IV

Correct Answer

Option: d

Explanation

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