WAT IS THE CRITERIA OF DEPOSIT FOR WHICH PAN CARD IS COMPULSORY?

by admin on March 16, 2011

WAT IS THE CRITERIA OF DEPOSIT FOR WHICH PAN CARD IS COMPULSORY?, 8.0 out of 10 based on 2 ratings
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the latest rule applicable for the Pan card to be given for the deposits into Banks and Post offices.



+Admin



{ 4 Answers… read them below or add one }

SANTOSH KUMAR March 16, 2011 at 5:25 am

As per the instruction of RBI a single deposit of Rs 50000.00 or more in cash reqire PAN card copy of depositor. (Not the account holder)

Reply

manoj kumar chouhan March 16, 2011 at 5:25 am

Jawahar saheb,
every cash Transactionn with bank of more than 50000 needs PAN . Further as per newProvisionn of TDS rule if you do notprovidee the PAN and your interest earning on fixeddepositt is more than 10000 the bank willdeductt TDS @ 20% instead of 10% and you will not have any option to get the refund as bank will file their return of TDS without your PAN. So it is better to provide PAN with all of your accountirrespectivee of the upper limit of interest or cash transction.

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Amit March 16, 2011 at 5:25 am

pan card is not apply in the banks and post office. you want to deposit pan card to apply. you go to utitsl pan card site. pan card is compulsory to bank transaction and you want to get open your bank account and trading account

Reply

amal March 16, 2011 at 5:25 am

All banking transactions by way of Investment in Deposits require PAN
AS also all investments in Mutual funds, NSC, Post office savings, Bonds & securities.

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