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PAN requirement
Is PAN mandatory for maintaining a Bank Account of Govt., department Account?
Replies (3)
No. PAN is not required for Govt as Govt is not a person under Income Tax Act. Further, Govt cannot file ITR. However, there is difference in Govt. and Govt. Companies.
Compliance with Provisions of 114B of I.T Rules & RBI/2016-17/135 Dt 16.11.16 is made mandatory to have PAN enabled account only should accept Rs 50000 +. Please clarify.
Since Income Tax Act and rules are not applicable on Govt. (as Govt. is not person), this notification is also not applicable.
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