A Permanent account number is useful especially for people who usually file income tax returns. It has a number of applications ranging from its use in tax system to investment purpose. With the pan card, you are able to enjoy various advantages as it can be used to serve a number of purposes.
This card is normally helpful as it is used in tax system to help in tracking of all the financial dealings thus allowing the tax authorities to fix the rate at which an individual, business or a company should be taxed. This avoids cases of over taxation or under taxation to people operating businesses; thus allowing taxation in the right manner according to the business monthly income.
The card may as well serve as a nationally accepted proof of identity. This to because it haves your photograph, your name and address that can be used to locate your residential area. An individual can hold both the pan card and identity card and this could be helpful as one can comfortably supplement the other. In case you need to use you ID card and you do not have it, with this card you can use it to serve the purpose of ID card instead.
The card is used by the tax authority to help them calculate your income tax. This means that the card generally determines your tax rate thus its absence may lead to increased tax rate that would make you pay higher tax than you are actually required to pay. Holding a card would help you avoid such a case thus enabling you to pay the right amount of tax you should pay.
With the use of this card, there is low possibility of its misuse. This is in the sense that the card is unique for every person and even if the card is lost or stolen, only the name and the address can be changed. The number of this card would remain unchanged thus avoiding chances of its misuse.
This card also enables one to get into a number of financial transactions from which you can open demat account. This allows you to sell, buy or share property and other assets. Whenever you are carrying out transactions that involve purchases or sales of immovable assets, you would be needed to quote the number of pan card for reference thus this card is very important.
The card ensures that you carry a fraud free transaction without the fear of one losing his or her money or property. Use of this card assures you of a transparent transaction. Therefore, its use should be enhanced for security reasons especially for people who undertake transactions involving a lot of money.
The pan card also allows you to open and operate bank accounts. It is needed whenever a person is depositing lamp some money into the account to avoid him or her depositing to the wrong account. It is as well vital whenever a person is carrying out transfer of money from one account to another to enhance safety of his or her money.
This card is normally helpful as it is used in tax system to help in tracking of all the financial dealings thus allowing the tax authorities to fix the rate at which an individual, business or a company should be taxed. This avoids cases of over taxation or under taxation to people operating businesses; thus allowing taxation in the right manner according to the business monthly income.
The card may as well serve as a nationally accepted proof of identity. This to because it haves your photograph, your name and address that can be used to locate your residential area. An individual can hold both the pan card and identity card and this could be helpful as one can comfortably supplement the other. In case you need to use you ID card and you do not have it, with this card you can use it to serve the purpose of ID card instead.
The card is used by the tax authority to help them calculate your income tax. This means that the card generally determines your tax rate thus its absence may lead to increased tax rate that would make you pay higher tax than you are actually required to pay. Holding a card would help you avoid such a case thus enabling you to pay the right amount of tax you should pay.
With the use of this card, there is low possibility of its misuse. This is in the sense that the card is unique for every person and even if the card is lost or stolen, only the name and the address can be changed. The number of this card would remain unchanged thus avoiding chances of its misuse.
This card also enables one to get into a number of financial transactions from which you can open demat account. This allows you to sell, buy or share property and other assets. Whenever you are carrying out transactions that involve purchases or sales of immovable assets, you would be needed to quote the number of pan card for reference thus this card is very important.
The card ensures that you carry a fraud free transaction without the fear of one losing his or her money or property. Use of this card assures you of a transparent transaction. Therefore, its use should be enhanced for security reasons especially for people who undertake transactions involving a lot of money.
The pan card also allows you to open and operate bank accounts. It is needed whenever a person is depositing lamp some money into the account to avoid him or her depositing to the wrong account. It is as well vital whenever a person is carrying out transfer of money from one account to another to enhance safety of his or her money.
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