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 wheelers

Time deposit exceeding Rs. 50000 in a bank or banking institution.

Deposits exceeding Rs. 50000 in Post office Saving Account

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.