Ans.
PAN is required for
executing many transactions in India. Below are some of the transactions where
quoting of PAN is mandatory -
1.
Opening of Bank account,
2.
Opening a Demat Account with a depository,
3. For investing in securities i.e. Initial Public Offers, Portfolio
Investment Schemes and Portfolio Management Schemes, Mutual Funds,
4.
For Sale or purchase of immovable property
5.
Filing of Income Tax Return, payment of tax, etc.