Transaction in which quoting pan is mandatory wef 1 April 2019

Sl.No.

Nature of transaction

Value of transaction

(1)

(2)

(3)

1.

Sale or purchase of a motor vehicle or vehicle, as defined in clause (28) of section 2 of the Motor Vehicles Act, 1988 (59 of 1988) which requires registration by a registering authority under Chapter IV of that Act, other than two wheeled vehicles.

All such transactions.

2.

Opening an account [other than a time-deposit referred to at Sl. No.12 and a Basic Savings Bank Deposit Account] with a banking company or a co- operative bank to which the Banking Regulation Act, 1949 (10 of 1949), applies (including any bank or banking institution referred to in section 51 of that Act).

All such transactions.

3.

Making an application to any banking company or a co-operative bank to which the Banking Regulation Act, 1949 (10 of 1949), applies (including any bank or banking institution referred to in section 51 of that Act) or to any other company or institution, for issue of a credit or debit card.

All such transactions.

4.

Opening of a demat account with a depository, participant, custodian of securities or any other person registered under sub-section (1A) of section 12 of the Securities and Exchange Board of India Act, 1992 (15 of 1992).

All such transactions.

5.

Payment to a hotel or restaurant against a bill or bills at any one time.

Payment in cash of an amount exceeding fifty thousand rupees.

6.

Payment in connection with travel to any foreign country or payment for purchase of any foreign currency at any one time.

Payment in cash of an amount exceeding fifty thousand rupees.

7.

Payment to a Mutual Fund for purchase of its units.

Amount exceeding fifty thousand rupees.

8.

Payment to a company or an institution for acquiring debentures or bonds issued by it.

Amount exceeding fifty thousand rupees.

9.

Payment to the Reserve Bank of India, constituted under section 3 of the Reserve Bank of India Act, 1934 (2 of 1934) for acquiring bonds issued by it.

Amount exceeding fifty thousand rupees.

10.

Deposit with,-

banking company or a co-operative bank to which the Banking Regulation Act, 1949 (10 of 1949), applies (including any bank or banking institution referred to in section 51 of that Act);

Post Office

Cash deposits,-

exceeding fifty thousand rupees during any one day;

11.

Purchase of bank drafts or pay orders or banker's cheques from a banking company or a co-operative bank to which the Banking Regulation Act, 1949 (10 of 1949), applies (including any bank or banking institution referred to in section 51 of that Act).

Payment in cash for an amount exceeding fifty thousand rupees during any one day.

12.

A time deposit with,-

Amount exceeding fifty thousand rupees or aggregating to more than five lakh rupees during a financial year.

(i) a banking company or a co-operative bank to which the Banking Regulation Act, 1949 (10 of 1949), applies (including any bank or banking institution referred to in section 51 of that Act);

(ii) a Post Office;

(iii) a Nidhi referred to in section 406 of the Companies Act, 2013 (18 of 2013); or

(iv) a non-banking financial company which holds a certificate of registration under section 45-IA of the Reserve Bank of India Act, 1934 (2 of 1934), to hold or accept deposit from public.

13.

Payment for one or more pre-paid payment instruments, as defined in the policy guidelines for issuance and operation of pre-paid payment instruments issued by Reserve Bank of India under section 18 of the Payment and Settlement Systems Act, 2007 (51 of 2007), to a banking company or a co-operative bank to which the Banking Regulation Act, 1949 (10 of 1949), applies (including any bank or banking institution referred to in section 51 of that Act) or to any other company or institution.

Payment in cash or by way of a bank draft or pay order or banker's cheque of an amount aggregating to more than fifty thousand rupees in a financial year.

14.

Payment as life insurance premium to an insurer as defined in clause (9) of section 2 of the Insurance Act, 1938 (4 of 1938).

Amount aggregating to more than fifty thousand rupees in a financial year. 

15.

A contract for sale or purchase of securities (other than shares) as defined in clause (h) of section 2 of the Securities Contracts (Regulation) Act, 1956 (42 of 1956).

Amount exceeding one lakh rupees per transaction.

16.

Sale or purchase, by any person, of shares of a company not listed in a recognised stock exchange.

Amount exceeding one lakh rupees per transaction.

17.

Sale or purchase of any immovable property.

Amount exceeding ten lakh rupees or valued by stamp valuation authority referred to in section 50C of the Act at an amount exceeding ten lakh rupees. 

18.

Sale or purchase, by any person, of goods or services of any nature other than those specified at Sl. Nos. 1 to 17 of this Table, if any.

Amount exceeding two lakh rupees per transaction: