PAN requirement for life insurance premium payments: quoting PAN mandatory when annual premiums meet statutory threshold. A payer must quote PAN when annual payments of life insurance premium to an insurer aggregate to Rs. 50,000 or more, the aggregation determining whether ... Summary
PAN requirement for life insurance premium payments: quoting PAN mandatory when annual premiums meet statutory threshold.
A payer must quote PAN when annual payments of life insurance premium to an insurer aggregate to Rs. 50,000 or more, the aggregation determining whether the PAN quoting obligation is triggered as a compliance mechanism for identification and reporting of premium payments.
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