NEW PAN CARD WITH QR CODE
PAN is the short form of Permanent Account Number which is useful for a direct taxpayer who wants to pay tax. It is unique 10-digit alphanumeric which is used to identify a taxpayer. It is allotting to every taxpayer to track financial transaction of a taxpayer.
PAN card is an important document to the taxpayer. It is useful in to pay an IT, to open bank accounts, to purchase and sell of motors, to apply for debit or credit card, to buy jewellery, to make investment, to do foreign exchange, to buy & sell property, to acquire loans, to deposit bulk cash, to pay insurance premiums, to buy telephone connection, to identified yourself by this card.
PAN card issued by UTIISL in India i.e. UTI Infrastructure Technology & Service Limited.
New feature added to PAN card
- Quick Response (QR) – the QR codes having information about PAN card holder is printed on PAN card to enable verification of the PAN card.
- Fables have been incorporated into card holder name, father’s name & birthdate. But a place of the details has been changed.
- The PAN & signature of card holder has been changed.
- It is writing in two languages (English & Hindi)
Advantage to hold PAN card
- This advantage is known i.e. to pay direct tax
- To give application for to income tax returns
- To avoid the higher tax deduction
To make some define transaction such as:
- Sale or buy immobile property value of Rs.500000& more than 500000.
- To purchase and sell the vehicle
- To pay bill of hotels & restaurant, an amount exceed than Rs 25,000
- To pay, exceed than 25,000 Rs. while traveling in the foreign country.
- To purchase Bonds & Debentures exceed than Rs. 50,000.
- To buy bonds acquired by the reserve bank of India.
- Payment of an amount exceeds than 50,000 Rs. For a company.
- To buy mutual fund
- If u deposit Rs.50000 in one bank account within 24 hours.
- To buy bullion and jewelry valued more than 50,000.
⦁ Job place
It is usable at your job place to help to the recruiter to save their tax. An employer can deduct TDS, professional tax by the employee PAN card. An employer can deduct for Income tax by showing outgoing salary to the employee at the time when they apply for tax returns.
⦁ Foreign currency exchange
When anyone wants to exchange their currency in other country’s currency at that time, you need PAN card to exchange currency with other. Even when you go for to apply for a visa, they acquire your PAN.
⦁ Bank Deposits
When you go for fixed deposit your cash exceeds than 50000 Rs. The bank asks for PAN. Banks save their Tax on giving interest to a fixed depositor.
⦁ Share Trading
The PAN card needs to do share trading to get PAN to the broker. It uses to open De-mat account.
⦁ Identity Proof
PAN accepted as nationally as identity proof. It includes the name address sign and the QR code.
Document Needed to Apply for PAN Card For Individual & HUF
⦁ Proof Of Identity
Passport size photo
- Address Proof
- Date Of Birth Proof
- Photo Id Proof For Foreign Citizen
IPO issued by Indian government
OCI issued by Indian government
- Address Proof For Foreign Citizen
PIO issued by Indian government
OCI issued by Indian government
bank account statement
registration in any foreigner’s office with Indian address/ location
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