Advantage of Pan Card


The PAN card was launched to estimate the total tax generated in the country so that the rate of taxation can be fixed properly. The advantage of the PAN to the income tax department is that it helps to track all your financial dealings and therefore fix the rate at which you (or a company) should be taxed. It is a useful tool to estimate the total tax revenue being generated in the country.

The benefits that you can enjoy for having a PAN card are as follows:
  • , PAN has to be mentioned for making a time deposit exceeding Rs. 50,000/- with a Bank or Post Office or depositing cash of Rs. 50,000/- or more in a Bank.

    The PAN card carries your photograph, name and address. Hence it serves as a nationally accepted proof of identity.
  • Without a PAN card, you will be taxed at the highest rate possible. If you pay TDS (tax deducted at source), that cannot be counted without a PAN card and you may end up paying tax twice.
  • The PAN number is unique to every PAN card holder. Your name and address may change; your card may get lost or stolen; but the PAN will remain unchanged. So, the possibility of misuse is rare.
  • As an ID proof, the PAN card is sure, dependable, nationally recognized and unchanging.
  • With a valid PAN card, you can easily enter into different financial transactions. You can obtain landline and cell phone connection; you can open demat account; you can buy and sell property and share and much more.
  • If you are NRI, you can easily buy property or engage in business in India with the help of your PAN card without filing tax returns.
  • A minor account can be opened and operated easily with the PAN card of the guardian.
  • Not only does the PAN have all these great advantages, but also it is necessary to carry on most of the normal transactions. The process has been highly simplified. So, you should make no delay in getting your PAN card.
     

    PAN Card Form - Download Application form
    Any Question About Pan Card : CLICK HERE
    Head Office Contact Number

27 comments:

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