How to invest without a PAN card?

Union government has made quoting PAN number mandatory for all investment transactions including Mutual Fund Investments. Many individuals are still reluctant to get PAN No. (Because of the Fear of Tax men). These people still can participate present stock market boom through ULIP. An ULIP - Unit Linked Insurance Plan - is a financial product that offers you life insurance as well as an investment like a mutual fund. Part of the premium you pay goes towards the sum assured (amount you get in a life insurance policy) and the balance will be invested in whichever investments you desire - equity, fixed-return or a mixture of both. Investments in ULIP attract the benefit under Section 80C.

Though my advice is not to mix investment with insurance, there are no other alternatives available to those with out PAN card to participate in the Share market. As ULIPs are seen as insurance products, there is no mandatory requirement of quoting PAN.

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