Deposit of Rs.90000/- in SB A/c

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This query is : Resolved

SURESHAN (Querist)

14 March 2008 I am having a Savings Bank Account with ICICI Bank Ltd. At the time of opening the A/c, I had not given my PAN No. When I went to deposit an amount of Rs.90,000/-, the banker hesitated to accept the payment. I had written my PAN in the space provided in the pay-in-slip. The bank’s ground was that I have to inform the PAN in advance and a photocopy of the PAN Card should be given to the bank along with original for certification at their end. Only after that they will accept the cash in excess of Rs.50,000/- But I am informed by some other people that mere mentioned of the PAN in the pay-inslip will do. Kindly advise as to the correct position. Also please let me have the details of any guidelines issured by the Income-tax department/RBI.

R.V.RAO

R.V.RAO (Expert)

14 March 2008 IT IS THE EXTANT GUIDELINES FOR BANKS BY RBI AS INTERNAL GUIDELINES( NOT FOR PUBLIC VIEWING).
I HAVE OPENED SB ACCOUNT IN ANDHRA BANK( WE ARE 3 JOINT HOLDERS). I WAS ASKED AND I HAVE GIVEN PAN COPY AND ORIGINAL FOR VERIFICATION FOR ALL 3 HOLDERS .THEN ONLY THE BANK OPENED THE SB ACCOUNT.
IT IS TRUE WHILE OPENING THE ACCOUNT ITSELF WE GIVE PAN XEROX AND ORIGINAL FOR VERIFICATION.
IT IS NOT TRUE THAT I CAN ONLY QUOTE PAN WHILE DEPOSITS OR WITHDRAWALS ARE MADE.
YOU MAY VISIT
www.rbi.org
and ALSO ASSOCIATION OF INDIAN BANKS WEBSITE FOR WHICH YOU MAY TYPE THE WORDS IN GOOGLE SEARCH BAR. YOU FIND GUIDELINES.
R.V.RAO

CA Saurabh Maheshwari

CA Saurabh Maheshwari (Expert)

15 March 2008 PAN COPY IS MUST AT TE TIME OF OPENING AN ACCOUNT

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