Check sibling questions

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
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Davneet Singh

Davneet Singh is a graduate from Indian Institute of Technology, Kanpur. He has been teaching from the past 12 years. He provides courses for Maths and Science at Teachoo.