Question

PAN number required for deposit of

• A. Rs 25,000 and more
• B. Rs 50,000
• C. Rs 5 lakh
• D. Rs 10 lakh

Answer 1

Answer:

B. Rs 50,000

PAN (Permanent Account Number) is required for high-value cash transactions to prevent tax evasion. Deposits of Rs 50,000 or more in a bank account require PAN. This includes cash deposits, bank transfers, and purchases of certain financial instruments.