Is there any RBI circular available for PAN Number mandate for more than Rs.50000 withdrawal or cash

Is there any RBI circular available for PAN Number mandate for more than Rs.50000 withdrawal or cash deposit in SB account???.. Kindly clarify...

 

It's not mandatory...if pan is not available u can also take form 60..but it's a good practice if you ask the customer to update his/her pan no...

 

I am asking for pan but collegues sayin tat there is no circular for it...

 

During withdrawal no need for pan....bt for deposit 50k nd above pan is mandatory

 

If the amount came by neft or transfer inward means... we want to moniter the account transaction by pan oly na... so while widthdrwal also we need pan...... isnt or not??? Kindly clarify...

 

during cash deposit its mandatory to have a pan card , if customer doesnt have pan he have to made a declartion on form 60 that he dont have pan and want to deposit more than 50000 ... in case of. transfer or withdrawl no need of pan or form 60... if the person dont have pan card and want to deposit more than 50000 in cash then every time he have to declare on form 60 with deposIt slip...

 

No, if money came by neft or inward we can also ask that customer to clarify it...what is the source of that money...if pan is not available...

 

one more thing circular related to pan are not issued by RBI.. same is issued by CBDT

 

In cash deposit Chellan alone they clearly mention for above 50000 pan is mandatory ... pan or form 60 we should get

 

https://m.rbi.org.in/scripts/NotificationUser.aspx...

 

This rule was framed by Income Tax Dept. to know cash deposits and cash withdrawals Rs.50000 and above in the accounts maintained with banks.

 

Who has to sign on FORM 60 . Depositor or A/C Holder

 

If the depositor is not the account holder he has to give his PAN number when the amount is Rs.50000 and above.

 

There is no RBI circular.Income tax act section 114B specifies quoting pan for deposit rs 50000 ; above.