PAN is mandatory for Transactions in which quoting

Transactions in which quoting of PAN is mandatory

There are various usages of PAN Card and PAN – Permanent Account Number. Here is the list of all such matters regarding using PAN Number.

PAN is mandatory

PAN is mandatory

–          Sell/ Purchase any immovable property worth value of 5 Lakhs or more

–          Sell/ Purchase a motor vehicle/ vehicle excluding two wheelers includes removable side car

–          Deposit in your account with post office savings bank more than 50,000/- rupees

–          Transaction of more than 1 Lakh value regarding sale/purchase or securities

–          Getting a new telephone connection – cellular

–          Want to open a new bank account

–          Payment of more than 25,000/- rupees in any hotel/ restaurant

–          In one day, you are purchasing a Demand Draft/ Pay Order of more than 50,000/- rupees

–          Transaction/ Deposit of Cash more than 50,000/- rupees in a single day

–          Paying amount more than 25,000/- to travel to any foreign country

–          Applying for any banking/related company or Credit/Debit Cards

–          Purchasing RBI Bonds more than or equal to 50,000/- rupees

–          Purchasing Shares/ Bonds from a company more than or equal to 50,000/-

–          Purchasing Mutual/ Funds Units of 50,000/- rupees or of more value

–          Payment of Life Insurance Premium of value 50,000/- rupees to an insurance company in a year.

 

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