News related to Pan Card: PAN card is an important document and is used for many purposes including financial transactions. PAN card is required for everything from opening a bank account to withdrawing a large amount. It is also used to file ITR and claim TDS. Apart from this, you can also use it as an identity card. In such a situation, you cannot do any major transaction without a PAN card. But then the question arises that how much transaction can you do without a PAN card.
Attempts to curb black money
Every person should get a PAN card, because the government has made it mandatory to link PAN with Aadhaar. If this link is not done, then you may be deprived of the benefits of many government schemes. Along with this, many of your works may also stop. In such a situation, it is important that you get your PAN card made. Through PAN card, you can transact lakhs in your account, it is a permanent account number which remains under the supervision of the government. The government has introduced PAN card to prevent corruption and black money.
You can do this much transaction without PAN card
This is the reason why it is mandatory to have a PAN card if you transact a large amount. Because the government has made PAN card mandatory for transactions of Rs 50 thousand or more. In such a situation, you can do this work easily with the help of PAN card. This makes it clear that you can transact only less than 50 thousand without a PAN card. PAN card becomes mandatory for transactions of 50 thousand or more.
That’s why PAN card is necessary
Permanent Account Number or PAN is a means of identifying many taxpayers in the country. You must be well aware that without a PAN card, you cannot do any transaction related to money. In today’s time, PAN card is an essential document for doing financial transactions. Without a PAN card, you cannot do financial transactions. You need it for both government and non-government work.
