What is Permanent Account Number PAN Card and Why It is Necessary



PAN Card
PAN Card is a basic document and Income Tax Department issues it. It provides us many facilities for our benefits. Actually PAN ( Permanent Account Number ) is a 10 digits number which consists of both numbers and characters like APSN54467D. As its full form shows that this number is permanent for you, you can’t change it but you can change your address or other information if needed. CLICK HERE TO KNOW Benefits of Using Permanent Account Number PAN ... 
Who is Eligible for PAN Card
Who is Eligible for PAN Card
Why PAN is So Important for Us :
§  The best part of PAN is that it is necessary to fill Income Tax. So, those whose salary is taxable must apply for Permanent Account Number. If you do not submit your PAN Card to employer then employer can cut your TDS according to slab rate or higher.

§  According to new rules you can’t withdraw or deposit Rs. 50,000 or more without PAN Card in any bank.

§  If your salary is not taxable then you don’t need PAN, but you should have PAN because there are some transaction as well who needs this. Some bank made this compulsory document for account opening.

§  It is helpful in buying or selling a property and taking a loan from bank as well. All these make it a necessary and important document that everyone must have.

Who Can Apply for Pan Card :
The only requirement for PAN Card is that you must be an Indian. No matter whether you are businessman, salaried or student, you can apply for PAN ( Permanent Account Number ). With that there is no age limit to fill the application form of PAN. Even a child or new born baby also can apply for PAN Card.
What is Permanent Account Number PAN Card and Why It is Necessary
What is Permanent Account Number PAN Card and Why It is Necessary
How to Apply for Pan Card :
There are two ways to apply for Pan Card –

1.       Online :  You can apply for Permanent Account Number through online by using their official website which is www.tin-nsdl.com. From there you just need to follow some simple steps.

2.       Offline : If you don’t want to apply online then use the second method of application and that is offline. For this you need to meet some mediators, give him PAN application form, your document and fee.

After the submission of application, you will get your PAN within 15 to 20 days through speed post. If you don’t get your PAN through speed post you can get it through net by using your application number. This application number will be given to you while you fill account online and if you are applying offline then your mediator will have your application number.

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Why PAN is So Important for Us
Why PAN is So Important for Us


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