Thresh Hold limit

[Deepak Whorra]

Dear Experts,

A simple question :

In general , for sales  of products by cheque/RTGS/Credit Cards, is there any thresh hold value above which one has to obtain the Pan No. of the buyer ? I am asking this question as it pertains to products other than those mentioned in Section 206C.

 

[DR.MARIAPPAN GOVINDARAJAN]

Obtaining PAN is advisable for all in any matter and also it is for identify proof.

AI Summary

PAN collection advisable for sales by cheque, RTGS or credit card even where no statutory threshold is specified.
Whether a monetary threshold requires collection of a buyer's PAN for sales effected by cheque, RTGS or credit card for goods not covered by Section 206C. The reply advises that obtaining PAN is advisable in all transactions as identification and does not identify any specific statutory threshold for such payment modes.