PAN Card isnot a tax-oriented document anymore. It is an essential government documentthat is required during multiple areas such as banking, share trading, realestate, education, and travel. If you don’t have one, search for PAN Card agent near me andapply soon. Let’s check the advantages of possessing a PAN Card.
1. IT return
Both individuals and entities have to pay tax as per the governmentrule. To claim the return a form has to be filled where PAN Card details are absolutelynecessary.
2. ID Proof
PAN Card serves as a valid ID proof. It carries a photo of an individuallike other ID Cards. This is accepted as one of the most vital ID Cards by allorganizations.
3. PAN number saves your money
If your bank account is linked with a PAN number then you will becharged only 10% TDS instead of 30%.
4. Hassle free business
Commence a business at ease if you are a PAN Card holder. TaxRegistration Number is needed for commencing a business. This is generated onlyif the owner or the entity has a PAN Card.
5. Opening an account in bank or financial institutions
It is mandatory to hold a PAN Card if you want to open an account forfinancial transactions. For withdrawing cash more than 50k in a day, your PANCard will be checked repeatedly. The Xerox copies of the same are acceptedalong with KYC form. For making FDs and taking loans PAN Card is essential.
6. Buying and selling of fixed assets
If you are buying or selling a property more than 10 lakh your PAN Cardwill be verified and number will be noted in the deed.
PAN Card has been made compulsory by the GOI to combat fraudulenceand to track citizens who aren’t paying taxes. PAN Card preparation is not verycomplicated. It’s just a 24 hour work day done by many organizations againstsome nominal charges. Khanna Associates is a reliable PANCard Agent in Noida. They are expert in providingservices related to Aadhar card, PAN Card, Passport and life certificate.