The 18 transactions where quoting of PAN is mandatory

The 18  transactions where quoting of PAN is mandatory

The transactions where quoting of PAN is mandatory is specified in rule 114B of the Income tax rules and are as follows:

1.   Sale or purchase of a motor vehicle (other than two wheeler)
 

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
 

3.   Making an application to a bank/co-operative bank/any other company or institution, for issue of a credit or debit card
 

4.   Opening of a demat account
 

5.   Payment to a hotel or restaurant against a bill or bills at any one time in cash for 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 in cash for an amount exceeding Rs. 50,000
 

7.   Payment to a Mutual Fund for purchase of its units for an amount exceeding Rs. 50,000
 

8.   Payment to a company or an institution for acquiring debentures/bonds issued by it for an amount in excess of Rs. 50,000
 

9.   Payment to the RBI for acquiring bonds issued by it for an amount exceeding Rs. 50,000
 

10.         Cash deposit with a bank/co-operative bank for value exceeding Rs 50,000 during any one day or aggregating to more than Rs 2.5 lakh during the period November 9, 2016 to December 30, 2016
 

11.         Purchase of bank drafts/pay orders/banker's cheques from a bank/co-operative bank in cash 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 for an amount exceeding Rs. 50,000 or aggregating to more than Rs. 5 lakh 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 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.         Payment of life insurance premium to an insurer for an amount aggregating to more than Rs. 50,000 in a financial year
 

15.         A contract for sale or purchase of securities (other than shares) for an amount exceeding Rs 1 lakh per transaction
 

16.         Sale or purchase, by any person, of shares of a company not listed in a recognised stock exchange for an amount exceeding Rs. 1 lakh per transaction
 

17.         Sale or purchase of any immovable property for an amount exceeding Rs. 10 lakh or valued by stamp valuation authority referred to in section 50C for an amount exceeding Rs 10 lakh
 

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 for an amount exceeding Rs. 2 lakh per transaction

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