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What Is A PAN Card And What Is Importance of PAN

Updated: Category: Banking
Author: Member Level: SilverPoints: 10

Importance of pan card is very much in today's life. With the help of PAN card any one can use it as a I-card.

In present days PAN card works as a I-card for every person who wants to do any money exchange process any where in INDIA.PAN means Permanent Account Number. Almost every money transaction demands the use of a PAN. The main uses of PAN card or PAN no. are:-

1. When anybody have to fill income tax return.

2. When anyone wants to open a bank account.

3. When anyone deposit cash of Rs 50,000 or more in a bank.

4. When anyone open a fix deposit of Rs 50,000 or more.

5. When you buy/ sell shares and mutual funds

6. When you take a loan: home/ personal/ other

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