Why PAN » It is also compulsory to quote PAN in all documents pertaining to the following financial transactions :- (a) Sale or purchase of any immovable property valued at five lakh rupees or more; (b) Sale or purchase of a motor vehicle or vehicle, [the sale or purchase of a motor vehicle or vehicle does not include two wheeled vehicles, inclusive of any detachable side-car having an extra wheel, attached to the motor vehicle;] (c) A time deposit, exceeding fifty thousand rupees, with a banking company ; (d) A deposit, exceeding fifty thousand rupees, in any account with Post Office Savings Bank; (e) A contract of a value exceeding one lakh rupees for sale or purchase of securities; (f) Opening a bank account; (g) Making an application for installation of a telephone connection (including a cellular telephone connection); (h) Payment to hotels and restaurants against their bills for an amount exceeding twenty-five thousand rupees at any one time; (i) Payment in cash for purchase of bank drafts or pay orders or banker’s cheques for an amount aggregating fifty thousand rupees or more during any one day; (j) Deposit in cash aggregating fifty thousand rupees or more with a bank during any one day; (k) payment in cash in connection » PAN is Compulsory : We help Foreign Passport Holders Too! It is mandatory to quote PAN on return of income, in India according to the Income Tax Department of India. Also, as per SEBI directive, effective from July 2, 2007, Permanent Account number (PAN) shall be the sole identification number for all participants transacting in the securities market, including mutual funds, irrespective of the amount of transaction. Consequently, it is now mandatory for all existing as well as prospective investors (including all joint applicants/holders, guardians and non resident Indians) to furnish their pan card copy along with the original pan card while investing in mutual funds. You can also apply for a duplicate or replacement pan card in case you have either lost or misplaced your old pan card. You would be issued a new card bearing the same old permanent account number. We can also help you with HUF PANs, Family pan cards, pan for minors, address or name change, signature mismatch, or any other correction.