Each individual shall quote his permanent account number (PAN) in all his returns/challans/correspondence with any income-tax authority. Additionally, every individual shall quote his PAN in all documents relating to the transactions determined in rule 114B and given in the table (infra):
|
Value of Transaction |
|
1. |
Sale or purchase of a motor vehicle (other than two wheeler) |
All such transactions |
2. |
Opening an account [other than a time-deposit referred to at Sl. No. 12 and a Basic Savings Bank Deposit Account] with a bank/co-operative bank |
All such transactions |
3. |
Making an application to a bank/co-operative bank/any other company or institution, for the issue of a credit or debit card |
All such transactions |
4. |
Opening of a Demat account |
All such transactions |
5. |
Payment to a hotel or restaurant against a bill or bills at any one time |
Payment in cash of an amount exceeding Rs. 50,000 |
6. |
Payment in connection with travel to any foreign country or payment for purchase of any foreign currency at any one time. |
Payment in cash of an amount exceeding Rs. 50,000 |
7. |
Payment to a Mutual Fund for purchase of its units |
Amount exceeding Rs. 50,000 |
8. |
Payment to a company or an institution for acquiring debentures/bonds issued by it |
Amount exceeding Rs. 50,000 |
9. |
Payment to the RBI for acquiring bonds issued by it |
Amount exceeding Rs. 50,000 |
10. |
Deposit with a bank/co-operative bank |
Deposits in cash exceeding Rs. 50,000 during any one day or exceeding Rs. 2,50,000 during November 9, 2016, and December 30, 2016 |
11. |
Purchase of bank drafts/pay orders/banker’s cheques from a bank/co-operative bank |
Payment in case for an amount exceeding Rs. 50,000 during any one day |
12. |
A time deposit with bank/co-operative bank/post office/Nidhi/non-banking financial company |
Amount exceeding Rs. 50,000 or aggregating to more than Rs. 5,00,000 during a financial year |
13. |
Payment for one or more pre-paid payment instruments to a bank/co-operative bank/any other company or institution |
Payment in cash or by way of a bank draft/pay order/banker’s cheque of an amount aggregating to more than Rs. 50,000 in a financial year |
14. |
The payment as life insurance premium to an insurer |
Amount aggregating to more than Rs. 50,000 in a financial year |
15. |
A contract for sale or purchase of securities (other than shares) |
Amount exceeding Rs. 1,00,000 per transaction |
16. |
Sale or purchase, by any person, of shares in a company not listed in a recognised stock exchange |
Amount exceeding Rs. 1,00,000 per transaction |
17. |
Sale or purchase of any immovable property |
Amount exceeding Rs. 10,00,000 or valued by stamp valuation authority referred to in section 50C at an amount exceeding Rs. 10,00,000 |
18. |
Sale or purchase, by any person, of goods or services of any nature other than those specified at Sl. Nos. 1 to 17 above |
Amount exceeding Rs. 2,00,000 per transaction |