Why Pan Card Required

Why Pan Card Required

• It is a Valid ID proof
• It is required to file ITR (Income tax return)
• It is required while doing company registration/Vat/Service Tax/Excise Registration
• It is required by banks while depositing money in Bank Account of 50000 or more
• Making FD>50000 Rs in bank/Post Office, Pan Card Number to be quoted to bank
• Purchasing property >=5 lacs, Pan Card Number to be quoted to Registrar
• If turnover of business >=5lacs,then obtaining pan card is compulsory