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TMI BlogTransactions where PAN to quote is compulsory as per Rule 114BX X X X Extracts X X X X X X X X Extracts X X X X ..... Opening an account [other than a time-deposit referred to at Sl. No.12 and a Basic Savings Bank Deposit Account] with a banking company or a cooperative bank. All such transactions. 3. Making an application to any banking company or a co-operative bank or to any other company or institution, for issue of a credit or debit card. All such transactions. 4. Opening of a D-mat account. All such transactions. 5. Payment to a hotel or restaurant against a bill or bills at any one time. Payment in cash of an amount ₹ 50,000. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 50,000 or aggregating to more than ₹ 5,00,000 during a financial year. 13. Payment for one or more pre-paid payment instruments, as defined in the policy guidelines for issuance and operation of pre-paid payment instruments issued by RBI, or a banking company or a co-operative bank or to any other company or institution. Payment in cash or by way of a bank draft or pay order or banker s cheque of an amount aggregating to more than ₹ 50,000 in a financial year. 14. Payment as life insurance premium to an insurer. Amount aggregating to ₹ 50,000 in a financial year. 15. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e any income chargeable to tax in India; and (ii) does not have a permanent account number, and (iii) enters into any transaction referred to at Sl. No. 2 or 12 of the Table, in an IFSC banking unit, shall make a declaration in Form No. 60 The provisions of this rule shall not apply to the following class or classes of persons, namely:- (i) the Central Government, the State Governments and the Consular Offices; (ii) the non-residents in respect of the transactions other than a transaction referred to at Sl. No. 1 or 2 or 4 or 7 or 8 or 10 or 12 or 14 or 15 or 16 or 17 of the Table. A person who has an account (other than a time deposit referred to at S.No.12 of the Table and a Basic Saving Bank Deposit Ac ..... X X X X Extracts X X X X X X X X Extracts X X X X
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