Why is Pan Card Important?

If you have a PAN card, then you will get many benefits like easy income tax filings, get your tax deducted at standard rates, quick and hassle free loan approvals, helps to track your investments, you can apply for a PAN card which not only used as a documents but also become a nominee for shares, properties, and assets.

PAN card can be used in financial transactions, loans, making investments in mutual funds, shares, or buying property, for doing foreign exchanges, for seeking employment, you will also have to submit your PAN card for salary and accounting purposes, and to get a premium insurance.

PAN card is an important document that is used for financial and tax purposes in India, like for loan applications, purchasing property, exceeding 5 lakhs, buying jewelry, or selling property, post office deposits of more than 5 lakhs, for the digital payment wallets, to buy vehicles apart from two-wheelers.

Here are some important reasons why the PAN card is a crucial document. For banking services like opening a bank account, cash deposits of more than 50,000 INR, and to protect your funds from fraud and money laundering, it is also used for various purposes like identity verification, and it is also important for credit and debit card issuance.