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Why should we need a PAN card today?
09-20-2018, 06:19 AM,
#1
Why should we need a PAN card today?
Permanent Account Number is like an account maintained with the Income Tax Department.Pan card,mostly used as an identity proof,is required to be quoted while opening bank accounts,making sale or purchase of jewellery above certain thresholds and quite few other transactions.The primary purpose of the PAN is to bring a universal identification to all financial transactions and to prevent tax evasion by keeping track of monetary transactions.So it is needed for most of the important transactions today.So people who don't have a PAN card can apply for it.Today it is easy to get it in a few days.Since PAN card is used for most of the financial transactions,It is better to get it as soon as possible.

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