Cheque deposit of >50,000/- without pan card
This query is : Resolved
Suresh Yadav
(Querist)
12 August 2014
Can i Deposit cheque of Rs 50,000/- or More without Giving PAN Details to Bankers ?
If Yes then is there any maximum limit to deposit Cheque without disclosing PAN Details
If Yes then is there any maximum limit to deposit Cheque without disclosing PAN Details
12 August 2014
the ans is no as u need to provide mandatory
Suresh Yadav
(Querist)
12 August 2014
Actually my Parents have Joint A/c in Dena Bank. My father dont have PAN Card & He will be receiving Cheque of More Than 50,000/-
So How can I deposit if PAN Card Details are mandatory ?
So How can I deposit if PAN Card Details are mandatory ?
Suresh Yadav
(Querist)
12 August 2014
One of My Friend said ..Bankers Demands PAN Details Only In Case of Cash Deposits of More Than 50,000/- and not in case of cheque .
Is he correct ?
Is he correct ?
12 August 2014
but i would suggest u to apply for ur fathers pan as it has many uses and it will not take more then 15 days and the cheque is valid for 3 months from the date mentioned on it
CA Yugal Purohit
(Expert)
12 August 2014
yes ,You can deposit of a cheque of 50000 without pan, it is only mandatory in case of cash deposit.
Suresh Yadav
(Querist)
12 August 2014
Yeah Right Tushar Sir, I will Appy for PAN Card, But
If tenant will Deduct TDS on Payment made (i.e. Rent ) to my father, then How Much % They will Deduct ? 10% or 20% ..as My father dont have PAN Card and ( Rent amount is More than 1,80,000/-P.a.)
And Can he claim this TDS Refund Later by Obtaining PAN Card & filing IT Return ?
If tenant will Deduct TDS on Payment made (i.e. Rent ) to my father, then How Much % They will Deduct ? 10% or 20% ..as My father dont have PAN Card and ( Rent amount is More than 1,80,000/-P.a.)
And Can he claim this TDS Refund Later by Obtaining PAN Card & filing IT Return ?
12 August 2014
20% he has to deduct for non availibilty of pan and yes later u can claim but the tenant needs to revise his tds return so that much tds deducted will be reflected in 26AS
Suresh Yadav
(Querist)
12 August 2014
Thank You Sir,
But I dont Think so they will revise their Return as tenant is big Private company.
But I dont Think so they will revise their Return as tenant is big Private company.
12 August 2014
then i such case without pan how can u claim ur refund and if ur fathers total taxable income is below slab then u claim tds but pan is mandatory for claiming tds
Suresh Yadav
(Querist)
12 August 2014
Yes Right Sir,
I will be applying for it today itself
And Thanks Alot
Thank you very much for very useful Information
I will be applying for it today itself
And Thanks Alot
Thank you very much for very useful Information
12 August 2014
you are welcome suresh
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