Obligation to Verify PAN: recipients of mandatory transaction documents must ensure PAN is quoted before processing transactions. Recipients of specified economic or financial transaction documents have a statutory duty to verify that the Permanent Account Number (PAN) is quoted ... Summary
Obligation to Verify PAN: recipients of mandatory transaction documents must ensure PAN is quoted before processing transactions.
Recipients of specified economic or financial transaction documents have a statutory duty to verify that the Permanent Account Number (PAN) is quoted where quoting PAN is mandatory; the receiver must ensure PAN is present before accepting or processing the document, illustrated by banks confirming PAN when opening accounts.
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