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Resolved Question:
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is it pan no. necessary for fixed deposit of rs.25000/-
In Fixed Deposits  -  Asked by smita mane -  1 year ago

Best Answer:
As per the Central Board of Direct Taxes ruling
(http://www.incometaxindia.gov.in/RULES/Income%20Tax%20RULES/114B.asp)
for making a time deposit exceeding Rs. 50,000/- with a Bank or Post Office or depositing cash of Rs. 50,000/- or more in a Bank it is mandatory to mention PAN number.
1 year ago - By Mitu

Other Answers (2)
show:
Answer 1.
Now days for opening bank account, getting new installation of telephone connection, etc infact every where PAN number is asked.
1 year ago - By Lovely
Answer 2.
If you will not give PAN number then bank will deduct 20% TDS otherwise it deducts 10%.
1 year ago - By Manvi
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