Mandatory PAN wef 01st January 2016
|1.||Immovable property||i. Sale/ purchase exceeding Rs.10 lakh;
ii. Properties valued by Stamp Valuation authority at amount exceeding Rs.10 lakh will also need PAN.
|2||Motor vehicle (other than two wheeler)||No change|
|3.||Time deposit||i. Deposits with Co-op banks, Post Office, Nidhi, NBFC companies will also need PAN;
ii. Deposits aggregating to more than Rs.5 lakh during the year will also need PAN
|4.||Deposit with Post Office Savings Bank||Discontinued|
|5.||Sale or purchase of securities||No change|
|6.||Opening an account (other than time deposit) with a banking company.||i. Basic Savings Bank Deposit Account excluded (no PAN requirement for opening these accounts);
ii. Co-operative banks also to comply
|7.||Installation of telephone/ cellphone connections||Discontinued|
|8.||Hotel/restaurant bill(s)||Cash payment exceeding Rs.50,000/-.|
|9.||Cash purchase of bank drafts/ pay orders/ banker’s cheques||Exceeding Rs.50,000/- on any one day.|
|10.||Cash deposit with banking company||Cash deposit exceeding Rs.50,000/- in a day.|
|11.||Foreign travel||Cash payment in connection with foreign travel or purchase of foreign currency of an amount exceeding Rs.50,000/- at any one time (including fare, payment to travel agent)|
|12.||Credit card||No change.
Co-operative banks also to comply.
|13.||Mutual fund units||Payment exceeding Rs.50,000/- for purchase.|
|14.||Shares of company||i. Opening a demat account;
ii. Purchase or sale of shares of an unlisted company for an amount exceeding Rs.1 lakh per transaction.
|15.||Debentures/ bonds||Payment exceeding Rs.50,000/-.|
|16.||RBI bonds||Payment exceeding Rs.50,000/-.|
|17.||Life insurance premium||Payment exceeding Rs.50,000/- in a year.|
|18.||Purchase of jewellery/bullion||Deleted and merged with next item in this table|
|19.||Purchases or sales of goods or services||Purchase/ sale of any goods or services exceeding Rs.2 lakh per transaction.|
|20.||Cash cards/ prepaid instruments issued under Payment & Settlement Act||Cash payment aggregating to more than Rs.50,000 in a year.