PAN card is required for a large number of activities, both financial as well as non-financial. Here’s all you need to know about it.
Why does everyone need a PAN Card?
The PAN, or Permanent Account Number, is a unique identification number that seeks to tie all the financial transactions conducted by its holder. This is why you need a PAN to open a bank account, invest in a mutual fund, buy/sell property, and even open a Fixed Deposit (FD). Even foreigners earning in India need a PAN card. Businesses, NGOs. As much of India’s economy still runs on cash, many have never bothered with it. But this may no longer be possible, as the government is cracking down on tax evasion.
What is a PAN Card?
The PAN, a 10-digit number, is provided by the Income Tax Department under the supervision of Central Board of Direct Taxes, and is issued as per the rules set by the Income Tax Act, 1961.
PAN Card Application
A new PAN card can be obtained by any individual, business or HUF if they have the relevant documents and do not already posses a PAN card.
The new government process has been simplified, with the introduction of an online application form. Now, it is just a matter of filling in the online form (Form 49A for Indian citizens and Form 49AA for foreign nationals)
How to open Free pan agency ?
A user have to fill the simple form. After successful registration user will get the username and pass. Our Expert Team will review your request and activate your account on same working day.