Finance

Post Office Deposits And Withdrawals: Why PAN Is Now A Must-Carry Document

A small paperwork change may now decide whether your post office visit ends with a completed transaction, or with another trip back home. The passbook is no longer enough. For many families, the post office has always been the dependable, slightly old-school place for savings. You carry the passbook, fill a slip, wait your turn, and get the work done. But from this financial year, one more document deserves a fixed place in that folder: PAN. Under the revised Income-tax Rules, 2026, PAN is now compulsory for several post office transactions, including account opening, deposits, withdrawals and time-deposit investments, Business Today reported on 5 May. Economic Times also reported that the Department of Posts has advised depositors to quote PAN for specified transactions at post offices. What changed at the counter If a depositor does not have PAN, the post office may have to collect Form No. 97. The Income ...

Devyani
  • 1 week ago
  • 2 minutes read
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