What are the mandatory uses of PAN?
Some of the mandatory uses of PAN card are: While paying direct taxes. While paying income tax To register a new business To deposit an amount more than Rs. 50,000 To acquire a bond by paying an amount of equal or more than Rs. 50,000. To sell or purchase an immovable property valuing Rs. 5 lakhs or more. To purchase or sell a vehicle except a two-wheeler Payments towards travel requirements outside India valuing more than Rs. 25,000. To purchase jewelry valuing more than Rs. 5 lakhs. Purchase of mutual funds Purchase of shares valuing more than Rs. 50,000 To remit money outside India Purchasing insurance policies assessing more than Rs. 50,000