The use of PANcard is essential in most financial transactions
Purchase of a vehicle other than a two wheeler is also required for sale
Pancard is considered a necessary document for opening an account in a bank
Utility desk. The use of PANcard is essential in most financial transactions. It is necessary to deposit money with salary. Fewer people will know where it is used and why it is necessary for everyone to have it. In India, the Permanent Account Number Card or PAN Card forms the Income Tax Department under the supervision of the Central Board of Directors.
This important task requires a PAN card
A company requires a PAN card on payment of 50 thousand rupees or more for the purchase of shares. A PAN card is required to buy or sell real estate worth Rs. 5 lakhs or more.
A PAN card is required on payment of more than Rs.5 lakh for the purchase of bullion or jewelery.
Pancard is also required for payment of Rs. 50 thousand or more to a company or organization for the purchase of bonds or debentures. A PAN card is also required on the sale or purchase of a vehicle. No Pancard is required for the purchase or sale of a two wheeler. Purchase of a vehicle other than a two wheeler is also required for sale.