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