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maximum fd without pan

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(Querist)
17 April 2010 Q-1 I want to know that what is maximum amount i can made in bank fd without PAN?

Q-2 I want to made deposit in fd without PAM of Rs 80,000 can i make two fds of rs 40,000 and rs 40,000 with different applications but under same cutomer id ,same bank and same branch?

thanks in advance
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CA. Ashish Bihani

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CA. Ashish Bihani (Expert)
17 April 2010 Dear Rajat,

Ans. 1 - Rs.50,000/- is the maximum limit of deposit without PAN as per Income Tax Rules.

Ans. 2 - In my opinion, the same could be allowed.

Lets seek other experts clarification on the same.

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CA CS CIMA Prakash Somani

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CA CS CIMA Prakash Somani (Expert)
17 April 2010 Agreed on above :)
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CA CS CIMA Prakash Somani

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CA CS CIMA Prakash Somani (Expert)
17 April 2010 You can create two for sure.
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