IMPORTANCE OF PAN CARDCreated by:
A unique alphanumeric identification that is allocated to every taxpayer is the Permanent Account Number (PAN). It is a ten digit no. That is provided by using the Central Board of Direct Taxes. Presently it's miles one of the maximum vital documents which acts as financial identification proof for every of financial transactions. Whether you have got to buy a car or spend money on assets fill profits tax go back PAN has turn out to be mandatory.
Main Aim – It gives a key to music the financial transactions which being above the taxable limits isn't always kept away from by using the people. Added advantage is that PAN No. Stays unaffected even if you alternate your address throughout the country.
Similarity in PAN Card No. And SSN No. The social safety no. Given to citizens U.S.A. And Pan No. Issued to Indian residents are identity codes which can be personal and assist the authorities in keeping and tracking facts. A non-resident Indian (NRI) or someone of Indian beginning (PIO), you can observe for PAN (Permanent Account Number). As an NRI who needs to put money into India have to provide a PAN No. It is an critical no. For trading and banking circuits in India. If you apply new pan card here