Question
List certain specified transactions where quoting PAN is mandatory.

Answer

The following are the specified transactions where quoting PAN is mandatory:
  1. Sale or purchase of any immovable property valued at ₹ 5 lakh or more.
  2. A time deposit exceeding ₹ 50,000 with a bank.
  3. A deposit exceeding ₹ 50,000 with post-office.
  4. Sale or purchase of motor vehicles excluding two wheelers.

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