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PANCARD (only at 249/-)
What Is Pancard?
We Really don't need to explain but there it is.
A PAN card (Permanent Account Number card) is a unique identification card issued by the Income Tax Department of India. It contains a 10-character alphanumeric code, which helps in tracking financial transactions, and serves as a way to prevent tax evasion.
The PAN card is used for several purposes, including:
- Filing Income Tax Returns: It’s mandatory for taxpayers to link their PAN with their tax filings.
- Opening Bank Accounts: It is required for opening savings or current accounts.
- Making Large Financial Transactions: PAN is needed for transactions like purchasing or selling property, buying high-value items (like a car), or making investments.
- Tax-related activities: It is used for the payment of taxes, tracking tax payments, and more.
Few Benefits of Pancard
Here are a few benefits of having a PAN card:
- Tax Tracking and Filing: It simplifies the process of filing income tax returns, making it easier for the government to track your tax payments and for you to comply with tax regulations.
- Identity Proof: The PAN card serves as a valid proof of identity, especially for financial and official purposes, such as opening a bank account, applying for loans, or renting a house.
- Preventing Tax Evasion: PAN helps prevent tax evasion by linking all financial transactions to a unique identifier. It also helps the government track large transactions and detect suspicious activity.
- Required for Financial Transactions: PAN is essential for major financial transactions like buying property, purchasing assets above a certain value, or making investments in mutual funds and stocks.
- Simplifies Banking and Loan Processes: It is mandatory for various banking activities, including opening accounts and applying for credit cards or loans, reducing paperwork and streamlining processes.
- Ensures Accurate Tax Deduction: PAN ensures that the tax deducted from your income is credited correctly and prevents incorrect deductions by linking it to your tax profile.
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Documents Required for PANCARD
- Aadhar card.
- 2 Passport size photos.
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