First lets understand what is a PAN card and why is it needed. The PAN card is a necessary and essential requirement for anyone wishing to conduct financial transactions in India. The PAN card was made mandatory by the Income Tax department of India since 2005. Thus anyone living in the country or any Non-resident Indian living abroad needs to have a valid PAN card that will allow him/her to carry out monitory deals in the country. The PAN is must to do any kind of financial dealings involving banks, the Income Tax department, or any stock exchange deals.
The PAN or Permanent Account Number is a ten digit alphanumeric number that is issued in the form of a laminated card by the Income Tax department. This measure was taken in order to allow the authorities to monitor the financial dealings taking place in the country and for the enforcement of Income Tax laws that prevent unfair or illegal procedures. In the current scenario, the PAN is a compulsory item that every adult must own as it allows one to file for income tax returns and any other activity pertaining to financial exchanges. >> READ FULL STORY
The PAN or Permanent Account Number is a ten digit alphanumeric number that is issued in the form of a laminated card by the Income Tax department. This measure was taken in order to allow the authorities to monitor the financial dealings taking place in the country and for the enforcement of Income Tax laws that prevent unfair or illegal procedures. In the current scenario, the PAN is a compulsory item that every adult must own as it allows one to file for income tax returns and any other activity pertaining to financial exchanges. >> READ FULL STORY
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