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
  1. Practical Income Tax
  2. E-filing Procedure

About the Author

CA Maninder Singh's photo - Expert in Practical Accounts, Taxation and Efiling
CA Maninder Singh
CA Maninder Singh is a Chartered Accountant for the past 10 years. He also provides Accounts Tax GST Training in Delhi and Pune.