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Procedure for investing MFs without PAN Card

An individual or HUF (Hindu Undivided Family) can invest up to Rs 1.5 lakh in tax saving mutual funds and claim tax deduction under Section 80 C of the Income Tax Act

Research Desk

Who can claim the benefit of Section 80C of IT Act for investments in tax saving mutual funds? What is the procedure for individuals with no Pan Card to invest in MF?
- K.P Rao

An individual or HUF (Hindu Undivided Family) can invest up to ₹1.5 lakh in tax saving mutual funds and claim tax deduction under Section 80 C of the Income Tax Act.

Investors can invest up to ₹50,000 per mutual fund without a PAN Card. Instead of PAN Card, investors can use voter ID card, government ID card, card of reputed employer, driving license and passport, etc for KYC compliance.

This article was originally published on November 16, 2015.

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