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    May 29, 2011

    SUBMIT PAN NO FOR APPLYING FOR DEBIT CARD OR BUY JEWELLERY ABOVE 5 LAKHS

    Income tax department issue a circular about submitting of PAN number in some more transactions which is now mandatory. The transactions are as follows.
    1- Applying for debit or credit card.
    2- Buying jewelery above 5 lakhs.
    3-Payment of 50000 or more to the life insurance premium.
    4-Payment of 5 lakhs or more at a time to the dealer.
    This is the notification no. 27 of income tax act dated 26-05-2011 and will come into effect from 1 july 2011.
    Tags-pan number for jewellery,income tax notification on jewellery,income tax notification on debit card,pan number is must for debit card

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