(1)Every person,-(i)if his total income or the total income of any other person in respect of which he is assessable under this Act during any previous year exceeded the maximum amount which is not chargeable to income-tax; or(ii)carrying on any business or profession whose total sales, turnover or gross receipts are or is likely to exceed ] [five lakh rupees] [ Substituted by Act 21 of 1998, Section 41, for " fifty thousand rupees" (w.e.f. 1.8.1998).][in any previous year; or] [Substituted by Act 22 of 1995, Section 30, for Section 139-A (w.e.f. 1.7.1995).](iii)[ who is required to furnish a return of income under ] [Substituted by Act 22 of 1995, Section 30, for Section 139-A (w.e.f. 1.7.1995).][sub-section (4-A) of section 139; or [ Substituted by Act 18 of 2005, Section 41, for " sub-section (4-A) of section 139" (w.e.f. 1.4.2006).](iv)being an employer, who is required to furnish a return of fringe benefits under section 115-WD; [or] ][and who has not been allotted a permanent account number shall, within such time, as may be prescribed, apply to the Assessing Officer for the allotment of a permanent account number.] [Substituted by Act 22 of 1995, Section 30, for Section 139-A (w.e.f. 1.7.1995).](v)[ being a resident, other than an individual, which enters into a financial transaction of an amount aggregating to two lakh fifty thousand rupees or more in a financial year; or [Inserted by Finance Act, 2018 (Act No. 13 of 2018), dated 29.3.2018.](vi)who is the managing director, director, partner, trustee, author, founder, karta, chief executive officer, principal officer or office bearer of the person referred to in clause (v) or any person competent to act on behalf of the person referred to in clause (v),][(1-A) Notwithstanding anything contained in sub-section (1), the Central Government may, by notification in the Official Gazette, specify, any class or classes of persons by whom tax is payable under this Act or any tax or duty is payable under any other law for the time being in force including importers and exporters whether any tax is payable by them or not and such persons shall, within such time as mentioned in that notification, apply to the Assessing Officer for the allotment of a permanent account number.] [ Inserted by Act 10 of 2000, Section 58 (w.e.f. 1.6.2000).][(1-B) Notwithstanding anything contained in sub-section (1), the Central Government may, for the purpose of collecting any information which may be useful for or relevant to the purposes of this Act, by notification in the Official Gazette, specify, any class or classes of persons who shall apply to the Assessing Officer for the allotment of the permanent account number and such persons shall, within such time as mentioned in that notification, apply to the Assessing Officer for the allotment of a permanent account number.] [ Inserted by Act 21 of 2006, Section 32 (w.e.f. 1.6.2006).]
