Quoting of PAN
If you are allotted a PAN card by
income tax department then quoting of PAN is mandatory in all documents
pertaining to the following prescribed transactions:
Also Read: Documents required for PAN card
(a)
In Income tax returns
(b)
In all challans for
payment of tax
(c)
Sale or purchase of
property valued at Rs. 5 lakh or more
(d)
Cash deposit in bank
or making demand draft/pay
order/banker’s cheque exceeding Rs. 50,000
(e)
Sale or purchase of
securities exceeding value of Rs. 1 lakh
(f)
Opening a bank account.
If person do not have a PAN he will have to fill the prescribed form quoting
that he does not hold any PAN and give reasons for the same.
(g)
Bill payments of hotels
and restaurants exceeding Rs. 25,000 at any one time
(h)
Cash payments in excess
of Rs. 25,000 in connection with travel to any foreign country at any one time.
(i)
Application for issue of
Credit Card to bank.
(j)
Making an application for the following
purposes involving payments of any amount exceeding Rs. 50,000-
Ø
for purchase of mutual
funds
Ø
for acquiring shares of a
company through public issue
Ø
for acquiring debentures
of a company or institution
Ø
for acquiring bonds of
Reserve Bank of India
Click Link to Download PAN Card form
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