One of my post office MIS account (Rs. 45000) has matured last week. When I went to submit the MIS passbook for depositing the amount in my (post office) saving account, the sub post master asked me to submit photostat copy of my PAN for KYC purpose. They want to send this information to IT department. My querries are:
1. Whether KYC/PAN is needed for post office MIS amount withdrawal? As such the amount is not withdrawn in cash,but it is transferd to my savings account.
2. I heard that PAN is needed only when the amount to be deposited ( and not withdrawn?) is above Rs. 50,000 and that one also in cash.
3. Should I submit the PAN to the post office for any MIS withdrwal purpose?
Please give your expert opinion at the earliest, if possible with government gazzette or any other authentic notifications.