Rules for mandatory quoting of Permanent Account Number (PAN)

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Rules for mandatory quoting of Permanent Account Number (PAN)
Every person shall quote his PAN in all his challans, returns and correspondence with income tax authority .
Besides that quoting PAN in all documents pertaining to transactions specified in Rule 114B.
1) Sale or Purchase of Motor vehicle ( other than two wheelers ) irrespective of the value.
2) Opening a Bank account ( other than savings bank and time -deposit account ).
3) while applying credit card / Debit card.
4) Opening a DEMAT account.
5) Payment to hotel / Restaurant exceeding  ₹50,000 in cash.
6) Payment in connection to foreign travel or payment of purchase of foreign currency at any time in cash exceeding ₹50,000.
7) Payment to any mutual fund for purchase of its units of an amount exceeding ₹50,000.
8) Payment to a company or an institution for acquiring debentures or bonds issued by it of an amount exceeding ₹50,000.
9) payment to RBI for acquiring bonds issued by it exceeding ₹50,000.
10) Deposit cash with bank exceeding ₹50,000 in one day.
11) Purchase of bank drafts, pay orders, bankers cheque in cash exceeding ₹50,000.
12) A time – deposit with bank /co-operative bank / Post office/ Nidhi / non banking financial company payment in cash of ₹50,000 or aggregate of ₹5,00,000 in a financial year.
13) Payment as life insurance premium to insurer for aggregate amount of more than ₹50,000 in a financial year.
14) A contract for sale or purchase of securities other than sahres for exceeding. ₹1,00,000 payment in one transaction.
15) sale or purchase by any person, of shares in company not listed in stock exchange when payment exceeds ₹ 1,00,000 in each transaction.
16) sale or purchase of any movable property for an amount exceeding  ₹ 10,00,000.

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