02 March 2012
AS per RBI Instructions if any payments made in cash more than Rs 50000 then PAN No. to be quoted on the financial document.
My doubt is 1.If customer pays cash more than Rs 50000 then each and every time whether PAN No. to be quoted. 2. In Sale of Flats at time of booking customer quotes his PAN no. in application form. After wards if customer pays amounts in cash more than Rs 50000 then PAN no. need to be quoted. Whenever customer pays the amount in cash or cheque receipt is issuing to customer. so if customer pays in cash more than Rs 50000 then PAN no. need to be quoted on receipt every time or already PAN no. quoted in application form is it sufficient.
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