Investing in Mutual Funds ? - Impossible without Income Tax Permanent Account Number:

Till July 1,2007, only those people who invested in Mutual Funds for amounts more than Rs. 50,000 were needed to quote their IT PAN on the application. To avoid quoting this number and to be on a safer side, our people were wisely splitting the investments in to various parts either in their names or in the names of their relatives.

But, how long the Govt will sleep ?

Quoting IT PAN has been made mandatory by SEBI with effect from 2nd July 2007 for Capital markets and Mutual Fund investments irrespective of the amount of investment.

So, whether the investment is in your name or other's name, it doesn't matter anymore.

Photocopy of the PAN Card of the applicant has to be attached along with the application, without which it can't be processed.

It means that, if you want to invest but don't have PAN, you can do so only after applying for PAN. Of course, photocopy of acknowledged PAN application can be attached alongwith the investment application till the time you are allotted the number.