PAN Necessary when........ Sale/Purchase of any immovable property valued 5 lac or more. Sale/Purchase of any motor vehicle (other than two wheeler) which required registration under motor vehicle act 1988. Fixed deposit more than Rs. 50,000 with a Bank. Deposit exceeding Rs. 50,000 in any Bank or Post office. Sale/Purchase of share/ Debenture exceeding 1 Lac. Opening a current A/C, Saving account in Bank. Make an application for installation of a Telephone connection. Payment of Hotel/ Restaurant exceeding Rs. 25,000 at a time. Payment in cash for a Bank draft/ Banker cheque/ pay order for a bank aggregating Rs. 50,000 or more during one day. An application to the bank applying Debit/ Credit Card. Payment of an amount of Rs. 50,000 or more in a year as LIC Premium to an insurer.
Posted on: Tue, 08 Oct 2013 11:24:53 +0000
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