Student | Posted on 1-Jun-2021 | News-Current-Topics

What is pancard? What is the use ?

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translator | Posted on 16-Jun-2021

The Permanent Account Number (PAN) card is issued by the Income tax Department The department links all financial transactions made by a particular individual with his PAN no. which is unique for every individual..It is one of the most important documents as It also serves as an identity proof and is a ten-character alphanumeric identifier.

It is used

To file IT returns of individual or any entity.

It is needed to apply for any loan.

It is used to open bank accounts.

As per RBI guidelines you need to provide Pan card details for depositing cash more than Rs.50,000

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Sahil Raghavan

Content writer | Posted on 16-Jun-2021

PAN, or permanent account number, is a 10-digit unique alphanumeric number allotted to taxpayers by the Income Tax Department.Change of address anywhere in India does not affect PAN number and it remains the same .As it is an important identity proof it is compulsory to provide a PAN card details at the time of applying for a credit card or debit card,bank loans,investment above Rs.50,000 in bank or mutual funds.Purchases of gold or vehicles above 5 lacs need Pan card details.

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RIYA KUMARI

student | Posted on 10-Jun-2021

Pan Card is a card consisting ten digit numbers issued by Income Tax Department under Income Tax Act, 1961. It stands for Permanent Account Number. It is a identity card for any individual. It is necessary for individual firm, companies, Hindu Undivided Family, co-operative society, Government Agencies, and many more. It is used in buying vehicles. It is used in post office, bank and Non-banking financial company. It is necessary for opening demat account and for applications related to credit card.

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