swati mahajan (article trainee) (83 Points)
15 January 2011kindly tell when mentioning of PAN is mandatory in case of investment in securities
CA SURENDRA KUMAR RAKHECHA
(Practising CA at Surat)
(26263 Points)
Replied 16 January 2011
In future PAN would be recognized as a national identity card.
.
Investment in mutual fund of Rs.50,000 are also requires to quote PAN.
.
Hence no question of difference in Rs. 5 lacs or Rs. 10 lacs.
CA PARAS BAFNA
(Practising CA )
(33428 Points)
Replied 16 January 2011
Yes, for on line mutual fund investor from 1.10.2010 , submission of PAN Card has become mandatory
under the "KYC Norms.
swati mahajan
(article trainee)
(83 Points)
Replied 16 January 2011
thank you sir....kindly also tell that in case of shares when do we require to mention PAN no.
CA SURENDRA KUMAR RAKHECHA
(Practising CA at Surat)
(26263 Points)
Replied 17 January 2011
To acquire shares, you can have to open one account with share broker and a D-mat Account with a depository.
In both the cases you are required to submit the PAN card photo copy whether you deal actually in shares or not.
CAclubindia
