Sir, a few days back I had closed a loan taken against my policy with LIC. I was asked to produce the PAN card along with the cheque for an amount more than a lakh. I had read that PAN was necessary to pay any premium to an insurer if the amount was more than Rs. 50,000/- in cash. Payment by cheque does not attract submission of PAN Card.
Am I right? Please clarify.
Thanks.
Thanks a lot. I was not aware of this.
Thanks. I was not aware of this.
Nagaraja K
Hema Yashwanth & Associates
Chennai
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