WHAT ARE THE TRANSACTIONS FOR WHICH QUOTING OF PAN IS MANDATORY?
Income Tax Permanent Account Number (PAN) needs to be
quoted for execution of the following transactions.
Sale and purchase of immovable property for which
value is Rs. 5 lacs or more
Sale and Purchase of Motor Vehicle excluding two
Time deposit exceeding Rs. 50000 in a bank or
Deposits exceeding Rs. 50000 in Post office Saving
Contract for sale or purchase of securities
exceeding Rs. 1,00,000
Opening an account in a bank or banking institution
not being term deposit
Application for installation of telephone connection
including cellular telephone
Payment to hotels and restaurants exceeding Rs.
25000 at any time
Payment in cash for purchase of bank drafts, pay
orders, banker's cheques from a bank, for an amount
of Rs. 50000 or more during any one day
Deposits in cash aggregating Rs. 50000 or more with
a bank during any one day
Payment in cash in connection with foreign travel
including payment towards fare, or to a travel agent
or a tour operator or to an authorised person as
defined in clause (c) of section 2 of FEMA 1999 or
for purchase of foreign currency of an amount
exceeding Rs. 25000 at any one time.
Application to Bank, Banking company, banking
institution or to any other company or institution
for issue of a debit card or credit card
Payment of Rs. 50000 or more to a mutual fund for
purchase of units
Payment of Rs. 50000 or more to a company to
purchase its shares
Payment of Rs. 50000 or more to a company or an
institution for acquiring their debentures/bonds.
Payment of Rs. 50000 or more to Reserve Bank of
India for acquiring its bonds
Payment of Rs. 50000 or more to a Life Insurance
Company as premium
Payment to a dealer of Rs. 5,00,000 or more at any
time or against a bill for an amount of Rs. 5 lac or
more for purchase of bullion or jewellery.
All securities Market Transactions
Transfer of shares in physical form
Payment of insurance premium exceeding Rs. 100000
per year per policy.
Deletion of name of deceased shareholder,
transmission of shares to legal heirs, change in
order or names in case of physical shares.