9 Financial Transactions You Can Still Carry Out Without an Active PAN: Check List

Although your PAN card may be inactive due to non-linking with Aadhaar by the deadline, there are still several financial tasks you can undertake.

While ensuring that TDS (Tax Deducted at Source) and TCS (Tax Collection at Source) are duly addressed.

Here is a list of activities you can accomplish

  1. Bank Fixed Deposits (FDs) and Recurring Deposits: Continue earning interest on your FDs and recurring deposits, with an annual interest of up to Rs 40,000 (Rs 50,000 for senior citizens).
  2. Dividends from Companies and Mutual Funds: Receive dividends in excess of Rs 5,000 within a financial year.
  3. Sale of Immovable Property: Carry out the sale of immovable property if the sale value or stamp duty transaction exceeds Rs 50 lakh.
  4.   Buy a car with a value exceeding Rs 10 lakh.
  5. EPF Withdrawal: Withdraw funds from your EPF account if the amount exceeds Rs 50,000, ensuring applicable TDS.
  6. Rent Payments: Pay rent to your landlord if it exceeds Rs 50,000 per month.
  7. Sale of Goods and Services: Engage in the sale of goods and services if the transaction value exceeds Rs 50 lakh.
  8. Payments for Contract Work: Make payments of Rs 30,000 or more (or Rs 1 lakh or more for certain cases, such as interior design contracts).
  9. Commission or Brokerage Payments: Pay commission or brokerage exceeding Rs 15,000.

Please note that these transactions are subject to applicable TDS under the Income Tax Act. The above list encompasses financial activities that affect most individuals.

- Advertisement -

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Latest

More Articles

- Advertisemet -