I want to know about pan card?

Question

what is the use & essential

Answer 1

For all the PAN related links, visit http://mytaxes.in/index.php?topic=13.0 .

Answer 2

Permanent Account Number issued to you remains for your lifetime

Even if u change address / request another card for lost card etc ...

A single Identifier for Indian Citizens in scope of Financial transactions pertaining to taxes.

Newer PAN cards r to contain your biometric identity soon

Older ones will not get replacements soon

It serves up as your address proof in day to day life

Answer 3

A PAN number has been made compulsory for every transaction with the Income Tax department. It is also mandatory for numerous other financial transactions such as opening of bank accounts, availing institutional financial credits, purchase of high-end consumer item, foreign travel, transaction of immovable properties, dealing in securities etc. A PAN card is a valuable means of photo identification accepted by all government and non-government institutions in the country.

With your PAN you can continue to transact with the Income Tax department. However, in respect of other agencies you may encounter constraints without a PAN card since it doubles as a photo identity card.

You may retain any one of the numbers and surrender the other through a letter addressed to your jurisdictional Assessing Officer.

Yes. It is illegal to have two PANs and the penalty for such offence is Rs.10,000/-



By mistake I have been using different PANs for different purpose like one for my demat account and another for filing my Income Tax return and payment of taxes. How do I set this right?

It is advisable to retain only one PAN, preferably the one used for Income Tax purpose and surrender the other number immediately. The institutions where the latter number has been quoted should be informed of the correct PAN.



Is it mandatory to file return of income after getting PAN?

No. Return is to be filed only if you have taxable income.

Answer 4

PAN card is used for income tax purpose in India.

it is essential for submission of income tax returns.

for better understanding, research your answer - search the web.

Answer 5

PAN stands for permanent account number issued by income tax department of Indian government...It is mandatory for any type of financial transaction..

Answer 6

https://tin.tin.nsdl.com/pan/newpan.html

You can also go to this website for more details on making a new PAN card.

My personal fav is :

http://www.utitsl.co.in/pan/

I've made two PAN cards using this website...