A permanent account number (PAN) card is very important more so to people who file income tax returns or who engage themselves in large financial transactions. This card is used for a number of purposes; in the tax system and for investment purposes. Having this PAN card allows you to enjoy a number of benefits as it enhances your creditability in the eyes of financial institutions making it easy for you to qualify for numerous types of loans.
This card is normally helpful as it is used in tax system to help in tracking of all the financial dealings thus allowing the tax authorities to fix the rate at which an individual, business or a company should be taxed. This avoids cases of over taxation or under taxation to people operating businesses; thus allowing taxation in the right manner according to the business monthly income.
This card may also be used to serve the same purpose as the national ID card. It normally has a photograph, the name and the address of the individual holding it. For this reason, it is very important as it can be helpful where you need to provide you ID and you do not have it at that moment. You can produce this card instead as it is a nationally accepted proof of identity.
It is usually used to calculate the tax rate of every individual, thus determining the tax levy a person is required to pay. For this reason, absence of this card can lead to one being taxed at a higher rate than expected. Therefore, it is important for you to hold a card to avoid such cases that leads to higher taxation that could affect your business.
With the use of this card, there is low possibility of its misuse. This is in the sense that the card is unique for every person and even if the card is lost or stolen, only the name and the address can be changed. The number of this card would remain unchanged thus avoiding chances of its misuse.
The card as well allows you to enter into different financial transactions and to as well open a demat account. This enables you to buy, sell or share property and assets effectively. When transacting for sales and purchases of immovable assets or motor vehicles in cash, the card is very important as it ensures transparency during transactions. With the card, you can obtain cell phone and landline connection that could be useful to you in a number of ways especially in business activities.
This card ensures that there are no fraudulent transactions you are likely to engage yourself in. This is because the way in which you transact with this card is usually transparent thus avoiding cases of one losing his or her assets or money. Thus, having this card is essential especially to people who engage in transaction with a lot of money.
The pan card is also used to open bank accounts and to carry out transactions relating large amount of money. For instance, if you were depositing money that exceeds the quoted amount, you would need this card. The card is also vital whenever you are transferring funds to different accounts within either the same bank or different banks.
This card is normally helpful as it is used in tax system to help in tracking of all the financial dealings thus allowing the tax authorities to fix the rate at which an individual, business or a company should be taxed. This avoids cases of over taxation or under taxation to people operating businesses; thus allowing taxation in the right manner according to the business monthly income.
This card may also be used to serve the same purpose as the national ID card. It normally has a photograph, the name and the address of the individual holding it. For this reason, it is very important as it can be helpful where you need to provide you ID and you do not have it at that moment. You can produce this card instead as it is a nationally accepted proof of identity.
It is usually used to calculate the tax rate of every individual, thus determining the tax levy a person is required to pay. For this reason, absence of this card can lead to one being taxed at a higher rate than expected. Therefore, it is important for you to hold a card to avoid such cases that leads to higher taxation that could affect your business.
With the use of this card, there is low possibility of its misuse. This is in the sense that the card is unique for every person and even if the card is lost or stolen, only the name and the address can be changed. The number of this card would remain unchanged thus avoiding chances of its misuse.
The card as well allows you to enter into different financial transactions and to as well open a demat account. This enables you to buy, sell or share property and assets effectively. When transacting for sales and purchases of immovable assets or motor vehicles in cash, the card is very important as it ensures transparency during transactions. With the card, you can obtain cell phone and landline connection that could be useful to you in a number of ways especially in business activities.
This card ensures that there are no fraudulent transactions you are likely to engage yourself in. This is because the way in which you transact with this card is usually transparent thus avoiding cases of one losing his or her assets or money. Thus, having this card is essential especially to people who engage in transaction with a lot of money.
The pan card is also used to open bank accounts and to carry out transactions relating large amount of money. For instance, if you were depositing money that exceeds the quoted amount, you would need this card. The card is also vital whenever you are transferring funds to different accounts within either the same bank or different banks.
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