How the PAN card is useful in daily life?
PAN card is becoming a necessity to open a Demat account, bank account, for fixed deposits and to transfer an amount of more than Rs.50,000. There are many cases in which extra amount are to be paid if there is no PAN number. PAN card is the abbreviation for the Permanent Account Number and there will be ten characters in the number along with alphabets and numbers. The IT department had introduced the PAN card to observe the transactions done by individual people or companies. People whose annual turnover is five lakhs in the last year should take the PAN card to do the transactions. It is also useful to tax returns, TDS and others.