PAN quoting requirement mandates PAN or Form 60 for specified financial, property and deposit transactions to ensure compliance.

Rule 114B requires quoting PAN in documents for a defined list of transactions-bank and de mat account openings, financial instrument acquisitions, specified cash payments, deposits, time deposits, insurance premium payments, securities and immovable property dealings, and other transactions above prescribed value thresholds-and prescribes that non holders must furnish Form No. 60 (paper or electronic). Minors may use a parent's or guardian's PAN; certain foreign companies in IFSC units must use Form No. 60; specified governmental entities and some non residents are exempt; existing account holders who had not furnished PAN/Form 60 were subject to a compliance deadline.

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