A Pan card is a very important document in terms of financial transactions. You have to be a pan card holder if you want to do these works properly in your daily life. Given below 15 most important benefits of having a pan card.
What is a Pan card?
A Pan Card is a “Permanent Account Number” that is issued by the Income-tax department. On a pan card, a ten-digit pan number which is in both numeric and alphabetic characters is allotted to the individual in the form of a laminated card.
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How many days are required to get a New Pan card?
After applying for a Permanent Account Number i.e a Pan card the pan number is given to you immediately after the application process successfully completed. After that, you can get your New Pan Card within 2 to 15 working days by post.
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After how many days you will get a new Pan card if made any corrections to it?
To get a new Pan card after any modifications to your Pan card details it comes to you by post within 5 to 15 working days.
What are the 15 Most Important Benefits of having a Pan Card?
Here are the 15 most important benefits of having a Pan Card in your daily routine life.
- For Opening Bank Accounts – To open a new bank account in any bank a Pan card is a must document that is required during you apply for a bank account number. For any transaction of more than Rs. 50,000, a pan card must be linked to your bank account.
- To invest in Fixed deposit (FD) – If you want to invest in FD and the value is above Rs. 50,000 then, you need a Pan number. This is because the banks cut TDS on your FD’s interest.
- Apply for a Loan
- Can be used as an identity card
- For apply a telephone connection
- For sales and Purchase
- High price jewelry buying
- Income tax return
- tax return claim settlements
- Foreign Currency exchange
- Invest in securities
- To open a Demat account
- Real estate business
- For Investing money through the share market
- Mutual funds