Permanent Account Number as it is commonly called PAN. It is a unique identification number assigned to Indians, mostly to those who pay tax. PAN is a proof of identity to identify various taxpayers.
PAN card is mandatory for these things:
1. To Open a Bank account.
Before the PAN card was required to pay more than just 50,000 rupees in the bank. But now you need a PAN card to hold an FD to an account. Also, the PAN card is mandatory to open a bank account.
2. To travel abroad.
Those going to outer countries, then PAN card is mandatory to book the tickets.
3. To get a credit card
A PAN card is essential for obtaining the credit card and debit cards for online transaction.
4. To buy property.
A pan card is required to buy and register the property.
5. To do more than 50,000₹ bank transactions.
PAN card is required to withdraw more than 50,000₹ from banks or to deposit another’s account.
6. To buy or sell shares.
PAN CARD is required to either sell or buy.
7. To buy a vehicle.
You need a pan card to buy bike or car.
Share this Information with everyone so that let them be aware of the Importance of Pancard.
