COMPULSORY QUOTATION OF PAN NUMBERS IN FOLLOWING CASES

1. Sale or purchase of a motor vehicle or vehicle or other than two wheeled vehicles.
2. Opening an account [other than a time-deposit referred at point no. 12 and a basic saving bank deposit account] with a banking company or a co-operative bank.
3. Making an application for issue of a credit card.
4. Opening of a demat Account with a depository, participant, custodian of securities or any other person with SEBI.
5. Payment in cash of an amount exceeding  Rs.50000 to hotel or restaurant against bill at any one time
6. Payment in cash of an amount exceeding Rs.50000 in connection with travel to any foreign country or payment for purchase of any foreign currency at any one time.
7. Payment of an amount exceeding   Rs.50000 to a mutual fund for purchase of its units.
8. Payment of an amount exceeding   Rs.50000 too a company or an institution for acquiring debentures or bonds issued by it.
9. Payment of an amount exceeding Rs.50000 to the reserve bank of India for acquiring bonds issued by it.
10. Deposits of cash exceedingRs.50000 during any one day with a banking company or a cooperative bank.

10. (A) Deposits of cash aggregating to more than Rs. 250000 during the period of 9thNovember 2016     to 30th December 2016 with a banking company, cooperative bank or post office.

11. Payment in cash for an amount exceeding  Rs.50000 during any one day for purchase of bank drafts or pay orders or banker’s cheque  from a banking company or a co-operative bank .
12. A time deposit of amount exceeding  Rs.50000 or aggregating to more Rs.5 lakh during a financial  year with-

1. A banking company or a co-operative bank
2. A post office ;
3. A Nidhi referred to in section 406 of the companies Act, 2013 or
4. A non-banking financial company

13. Payment in cash or by way of a bank draft or pay order or banker’s  cheque  of an amount aggregating to more than Rs.50000 in a financial year. For one or more pre-paid payment instruments, as defined in the policy guidelines for issuance and operation of pre-paid payment and settlement systems act, 2007 to a banking company or  co-operative bank or to any other company or institution.
14. Payment of an amount aggregating to more than Rs. 50000 in financial year’s life insurance premium to an insurer.
15. A contract for sale or purchase of securities (other than shares) for amount exceeding Rs.1 lakh per transaction
16. Sale or purchase, by any person of shares of a company not listed in a recognised stock exchange for amount exceeding  Rs.1 lakh per transaction
17. Sale or purchase of any immovable property for an amount exceeding  Rs.10 lakh or valued by stamp valuation authority referred to in sections 50C of the  Act at an amount exceeding ten lakh rupees
18. Sale or purchase of goods or services of any nature other than those specified above for an amount exceeding Rs.2 lakh per transaction.

NOTE

1. Minor person can quote PAN of  his father or mother or guardian provided he does not have any income chargeable to income-tax
2. Any person, who does not have PAN and enters into any of above transaction, can make a declaration in from no.60.
3.  Quoting of PAN is not required by a non-resident in a transaction referred at point no. 3 or 5 or 6 or 9 or 11 or 13 or 18.
4. Any person who has an account (other than a time deposit referred at point no. 12 and basic saving bank deposit account) maintained with a banking.