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Q.

What is the necessity of PAN card?

Asked by Anindya Mukherjee, 07 Apr '09 08:00 pm
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Answers (7)

1.

It is mainly used to pay your tax returns based on the amount of salary you earn. It serves as an identity card too. Most banks want you to show your PAN card before they allow you to open your A/C.
Answered by inquisitive, 07 Apr '09 08:04 pm

 
  
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2.

It is mandatory to quote PAN on return of income, all correspondence with any income tax authority. From 1 January 2005 it will be mandatory to quote PAN on challans for any payments due to Income Tax Department.It is also compulsory to quote PAN in all documents pertaining to financial transactions notified from time-to-time by the Central Board of Direct Taxes. Some such transactions are sale and purchase of immovable property or motor vehicle or payments in cash, of amounts exceeding Rs. 25,000/-to hotels and restaurants or in connection with travel to any foreign country. It is also mandatory to mention PAN for obtaining a telephone or cellular telephone connection. Likewise, PAN has to be mentioned for making a time deposit exceeding Rs. 50,000/- with a Bank or Post Office or depositing cash of Rs. 50,000/- or more in a Bank.
Answered by Pardeep kapoor, 07 Apr '09 08:07 pm

 
  
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3.

Because ;-
1)Unique identity card issued by the government.
2)Proof of :-
i)Identity
ii)Date of Birth
iii)Paternity &
iv)Signature
3)Identity of our permanent account in IT Department
4)Way to give or take unlimited amount &
5)Reason of Pride too. ...more
Answered by Abhinav thakur, 22 Dec '09 11:07 pm

 
  
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4.

It servers as national ID proof and gives u an unique identification during all your financial transactions. To get a PAN card contact:

pancard.tax@gmail.com

They are helping global Indians in all sorts of PAN issues
Answered by PAN Card, 17 May '09 05:15 pm

 
  
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5.

1. u need it for opening a bank account
2. u need it to make any transaction of more than 50,000 rupess( in cash )
3.to purchase property
4. to purchase car etc etc
and above all it is MANDATORY for all income tax payees
3
Answered by iqbal seth, 07 Apr '09 08:02 pm

 
  
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6.

To know d details of ur filed returns
Answered by SHASHIBHUSHAN, 07 Apr '09 08:01 pm

 
  
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7.

It return, share mkt
Answered by krishna rao, 07 Apr '09 08:01 pm

 
  
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