PAN quotation requirements govern specified banking transactions, including deposits, withdrawals and account opening, subject to limited exclusions. PAN quotation is required for specified cash deposits, cash withdrawals, and for opening a current account or cash credit account with banking companies, co-operative banks and post offices. The person entering into the transaction must quote the Permanent Account Number in the relevant documents, and the receiving institution must ensure that the number is duly quoted and authenticated. The rule excludes transactions by the Central Government, State Government, consular offices, and certain non-residents or foreign companies dealing with IFSC banking units without taxable income in India.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
PAN quotation requirements govern specified banking transactions, including deposits, withdrawals and account opening, subject to limited exclusions.
PAN quotation is required for specified cash deposits, cash withdrawals, and for opening a current account or cash credit account with banking companies, co-operative banks and post offices. The person entering into the transaction must quote the Permanent Account Number in the relevant documents, and the receiving institution must ensure that the number is duly quoted and authenticated. The rule excludes transactions by the Central Government, State Government, consular offices, and certain non-residents or foreign companies dealing with IFSC banking units without taxable income in India.
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