The Government of India has made it mandatory to quota PAN number for all the cash deposit transacations in the Banks that exceed Rs. 50000 in a day. Hence it is also mandatory to quote PAN card number to deposit cash aggregating to Rs. 2.5 lakh or more between 9th November and 30th December 2016.
Following are the Banking transactions that require PAN to be quoted include:
1) Deposit with a banking company or a co-operative bank in cash deposit exceeding Rs. 50,000/-during any one day.
2) Purchase of bank drafts or pay orders or banker’s cheques from a banking company or a co-operative bank in cash deposit for an amount exceeding Rs. 50,000/- during any one day.
3) A time deposit with a banking company or a co-operative bank or a Post Office
4) Opening an account other than a time-deposit referred to above or a Jandhan / Basic Bank Deposit Account with a banking company or a co-operative bank
5) Cash deposits aggregating to Rs. 2,50,000/-or more during the period 09 November 2016 to 30 December 2016 as per Rules notified by CBDT on 15 November 2016
To get your PAN Card:
Online and Paper PAN applications can be filed easily through Websites or offices of NSDL or UTIITSL .
For more details visit following websites:
https://www.utiitsl.com/UTIITSLSITE/site/pan/index.html https://www.tin-nsdl.com/pan/pan-index.php