Jago Grahak jago

State Consumer Helpline Knowledge Resource
Management Portal (SCHKRMP)

Empowering Consumers

Govt. of India
IIPA logo

Daily News Clipping

 
How to check the status of Aadhaar card
How to stop auto-debits availed on credit, debit card
New DTH Cable TV rules: Has TRAI resolved customer complaints
Aadhaar may get deactivated under these circumstances heres how to check status
Tatkal Train Ticket: Rules, Timings, Reservation Charges And Other Details Here
Cable TV, DTH Users Can Optimise Their Monthly TV Bill Using Trai Channel Selector Tool
Now you can lock your Aadhaar number. Here’s how to do it
How do you link your Aadhaar with Paytm
How do you link Aadhaar with bank account
Health Insurance Claim: This is why your insurer may not pay the entire claim amount
Homebuyers can now seek full refund with 10 interest if flats get delayed beyond 1 year
Govt mulls making UPI-based QR codes mandatory for shops
Consumer panel to rescue of car buyer
Coke to connect with new-age consumers across media
Consumer court orders insurer to pay for inpatient diagnosis
Director of real estate firm held for non-compliance with consumer forum order
Possession delay, Consumer forum slaps Rs 1-lakh fine on Unitech
EMI scheme: HDFC Bank ordered to pay Rs 35,000 compensation to customer
Bank transfers Rs 48,000 to wrong account, held guilty for ‘careless transaction
Ahmedabad man sues lawyer after court dismisses his case
Consent not must for lifesaving surgery, says consumer body
Compensation of Rs 19 lakh awarded in medical negligence case
Bengaluru apartment owners win battle against developer
Complaints Against Illegal Deductions By Mobile Operators Can Be Filed In Consumer Forums: HP SCDRC
Air Canada to pay Rs 15k to Panchkula resident for damaging luggage
Pay Rs13.39L claim to truck owner, insurance co told
Consumer forum direts MakeMyTrip to pay Rs. Lakh to group of travellers
More power to you over builders Now, get refund for delayed possession of house
Irdai proposes to increase third-party insurance premium for cars, two-wheelers
Insurance firms told to pay Rs 27k for failing to provide cashless treatment
OnePlus directed to pay customer Rs.47,000
Charging GST on discounted items an ‘unfair trade practice’
Third party motor insurance rates may be hiked up to 20
More power to you over builders Now, get refund for delayed possession of house
 

Why You Need A PAN Card: 10 Things To Know
NDTV, February 19, 2019

PAN or Permanent Account Number is a ten-digit alphanumeric number issued by the Income Tax Department to an assessee. PAN enables the taxman to link transactions of the person. These include tax payments, TDS (tax deducted at source)/TCS (tax collected at source) credits and income tax returns. In other words, PAN acts as an identifier for the person with the Income Tax Department. Quoting of PAN is mandatory for filing of income tax return (ITR). Besides, furnishing of PAN card details is also mandatory for carrying out specific tasks such as sale or purchase of immovable property valued at Rs. 5 lakh and above, according to the Income Tax Department's website - incometaxindia.gov.in.

Here are 10 things to know about the latest PAN rules and why you need a PAN card:

Importance of PAN card

1. Quoting of PAN is also required for setting up a time deposit - or fixed deposit - exceeding Rs. 50,000 with a financial institution. Also, a cash deposit exceeding Rs. 50,000 in a post office savings account requires PAN, according to the taxman.

2. Payment to hotels and restaurants against bills above Rs. 25,000 at any one time requires furnishing of PAN card details. (Read: How to link PAN with State Bank of India account)

3. Furnishing of PAN is also mandatory for a contract valued above Rs. 1 lakh for sale or purchase of securities, and payment of Rs. 50,000 or more to a mutual fund for purchase of its units.

PAN card rules for taxpayers

4. PAN is required for payment in cash for purchase of a bank draft, pay order or banker's cheque for an amount of Rs. 50,000 or more in a day, according to the Income Tax Department.

5. The personal identification number issued by the Income Tax Department is also mandatory for deposit of cash amount to Rs. 50,000 and above in a bank in a day.

6. Quoting of PAN is also compulsory for making an application to obtain a credit or debit card.

7. Payment of an amount of Rs. 50,000 or more to a company for acquiring its shares, or to a company/institution for acquiring its debentures or bonds also requires quoting of PAN.

8. Besides, payment of Rs. 50,000 or more in a year as life insurance premium also requires PAN.

9. Meanwhile, the Supreme Court has said that linking of PAN with Aadhaar is mandatory for filing of income tax returns.

10. Applications for obtaining a PAN can be made in both offline and online modes. In the online mode, the applicant registers his or her request through the website of securities depository NSDL (National Securities Depository Limited) or financial service provider UTIITSL (UTI Infrastructure Technology And Services Limited). (Read: How to apply for a PAN card online)

Translate this page

Help No. States Consumer Helplines

  • ANDAMAN & NICOBAR
    03192-246323
  • ANDHRA PRADESH
    1800-425-0082, 1800-425-2977
  • ARUNACHAL PRADESH
    1800-345-3601
  • ASSAM:
    1800-345-3611
  • BIHAR
    1800-345-6188
  • CHHATTISGARH
    1800-233-3663
  • DELHI
    011-23379266
  • GUJARAT
    1800-233-0222,
    079-27489945 / 46
  • HARYANA
    1800-180-2087
  • HIMACHAL PRADESH
    1800-180-8026
  • JHARKHAND
    1800-3456-598
  • KARNATAKA
    1800-425-9339,
    1967
  • KERALA
    1800-425-1550
  • MADHYA PRADESH
    1800-233-0046
  • MAHARASHTRA
    1800-22-2262
  • MANIPUR
    1800-345-3821,
    0385-2443924
  • MIZORAM
    1800-345-3891
  • NAGALAND
    1800-345-3701
  • ODISHA
    1800-345-6724,
    1800-345-6760,
    0674-2351990,
    0674-2350209
  • PUDUCHERRY
    1800-425-1082,
    1800-425-1083,
    1800-425-1084,
    1800-425-1085
  • RAJASTHAN
    1800-180-6030
  • SIKKIM
    1800-345-3209
  • TAMIL NADU
    044-28592828
  • TELANGANA
    1800-425-00333
  • TRIPURA
    1800-345-3665
  • UTTAR PRADESH
    1800-1800-300
  • UTTARAKHAND
    1800-180-4188
  • FSSAI
    1800-11-2100
  • WEST BENGAL
    1800-345-2808