Most of the people Of India wants to know that Why The PAN Card Is Important Or What is the importance of PAN Card? Don’t Worry Guys!!! I am telling you all the advantages that i know.
There are lots of benefits Of PAN Card. Pan Card is the most important and mandatory document which issued by the Indian Government.It is very useful for tax payers and those who want to file a income tax refund.
Now, Defect of the pan card has been improved by the Indian government. After the demonetization, They put a QR(Quick Response) Code and linked with Aadhar Card in new pan card which is issued from 1st January 2017.
Now it is a very important identity proof in lots at business level and personal.
I Show you where your PAN Card Is Important and Mandatory:
PAN Card Uses Which you can’t ignore
It needs when you pay direct tax
When you go for a new registration of business then, lawyer must ask for PAN Card
When Taxpayers pay the tax, they need to feel a form at that time PAN Card is must necessary.
During Financial Transaction
When You Buy Or Sell Your Proprietary and the value is ₹5 Lakh and above.
Selling your Vehicle( Two Wheeler not included)
When you pay ₹25000 at the hotels and restaurants.
You want to send money out of India
You buy the ₹50000 Shares at that time it needs.
If you pay ₹50000 for any policy and insurance.
Mutual Fund Schemes
If you want to make ₹5 Lac Jewelry and above.
It requires in other countries when you travel.The Limit is ₹25000, If it gone above then PAN Card Must Need.
The money transffered from NRE Account(Account is opened who live in Out of India) and NRO(Non-Residential Ordinary)
What are the PAN Card uses?
It Contains Photograph, Address Proof, Name And QR Code that is linked with Aadhar Card.
It is very important in Tax Payment.
Remove the Tax Evation.
A Valid Identity Proof In India.
Indian Government Track All the Financial Information and they are able to know how many payments are done in a particular bank account.If you not pay then, they take a legal action on you.
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