I also agree with tanmoybabu. In the post office if your interest exceeds 10000 then there the same rule is applicable. But as the P.O. never wants PAN number so the common people take the opportunity.
Dear friends,
For your kind information I like to inform you that – Postal departments also asking for the PAS as well as Government approved Address proof and Identity proof like other financial institutions
Previously the rate of interest of the small scale investments was little higher than the other financial institutions. But now after RBI de-controlled the rate of interest on investment as well as same for the savings bank investments, now in some investment schems the rate of interest is higher than the rate of interest of the small scale investment. But the main difficulties investers of the post offices has to face when the maturity of the investment comes.
May be. Actually I live in a village, where most of the people has no PAN card. But they are purchasing NSC without PAN. I know many persons who are purchasing NSC without PAN.
