TaxTMI Login
Just a moment...
By creating an account you can:
Press 'Enter' to add multiple search terms. Rules for Better Search
of 
Press 'Enter' after typing page number.
of Press 'Enter' after typing page number.
No Folders have been created
Are you sure you want to delete "My most important" ?
NOTE:
of Press 'Enter' after typing page number.
of Press 'Enter' after typing page number.
All TMI Notes
of Press 'Enter' after typing page number.
of Press 'Enter' after typing page number.
All TMI Notes
Join Channel
Note
Bookmark
Share
Don't have an account? Register Here
Chapter No. 11 - PERMANENT ACCOUNT NUMBER [SECTION 139A and RULE 114]
Answer : Yes, PANCARD is required for Time deposit exceeding ₹ 50,000 with a bank/banking company /banking institution [139A(5)c) and Rule 114B].
PAN requirement for time deposits: PAN must be furnished when a time deposit exceeds the prescribed regulatory threshold. A PAN must be furnished when a depositor makes a time deposit with a bank, banking company, or banking institution that exceeds the prescribed monetary threshold; this imposes an identification and reporting obligation under the income tax PAN provisions and rules. of Press 'Enter' after typing page number.
TaxTMI 
