What is the significance of PAN card today?


#1

Permanent Account Number is like an account maintained with Income Tax department.PAN card, mostly used as an identity proof,is required to be quoted while opening bank accounts,making property sales or purchase of jewellery above certain thresholds and quite a few other transactions.Every person who wishes to enter in any economic and financial transactions is madatorily required to have a PAN card India.The main motive behind issuing PAN card is to track financial transactions done by each individual to avoid tax evasion.So it is important to apply new pan card today.People who don’t have a PAN card can apply for it online.Nowadays it is very easy.Since it is needed for most of the financial transactions,it is better to get it soon.