Permanent Account Number (PAN) is unique Identity number issued by the Income Tax Department under the provision of Income Tax Act, 1961. It is mandatory to quote PAN in return of Income & during all correspondence with the Income-tax authorities. Other transactions and cases in which quoting of PAN mandatory are:

(a)          Sale/purchase of any immovable property valued at Rs. 5 lacs or more;

(b)         Sale /purchase of motor vehicle (other than two wheeled)  ;

(c)          Time deposit exceeds Rs. 50,000 with a bank;

(d)         Deposits exceeding Rs. 50,000 in Post Office Savings Bank;

(e)          Contract for sale/purchase of securities exceeding Rs. 1,00,000;

(f)          Application for installation of a telephone connection including cellular connection;

(g)         Payment of hotels/restaurants bills exceeding Rs. 25,000 at any time;

(h)         Deposit in cash aggregating Rs. 50,000 or more with a banking company to which the Banking Regulation Act applies;

(i)           Payment in cash for purchase of bank draft or pay order or banker’s cheque for an amount aggregating Rs. 50,000 or more;

(j)           Payment in cash in connection with travel to any foreign country of an amount exceeding Rs. 25,000 or more at any one time;

(k)         Making an application for issue of credit card;

(l)           Payment of an amount of Rs. 50,000 or more to a mutual fund for purchase of its unit;

(m)       Payment of an amount of Rs. 50,000 or more to a company for acquiring shares issued by it;

(n)         Payment of an amount of Rs. 50,000 or more to a company or institution for acquiring debentures or bonds issued by it;

(o)         Payment of an amount of Rs. 50,000 or more to the Reserve Bank of India, for acquiring bonds issued by it.

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