BanglaHunt Desk: At this point, the PAN card is a very important document for any financial or banking activity. If you do not have a PAN card, some important work will be closed. The PAN (permanent account number) is a 10 digit number that the Income Tax Office gives to every citizen. Find out if you do not have a pan, what may be the difficulty
If you are buying real estate worth five lakhs or more, you are obliged to pay your PAN. If you buy a property without a PAN, it is illegal.
It is mandatory to provide PAN number when depositing more than 50,000 cash in savings account. Again, hotels and restaurants will require a PAN card even if you have to pay upwards of Rs 25,000.
If the life insurance premium is more than Rs 50,000 then you have to give the PAN number. Any company needs to buy shares over Tk 5,000.
If you wish to file an income tax return, your PAN card and Aadhaar card must be linked to each other. If you do not have a PAN and Aadhaar link, you cannot make income tax return.
Pay for TD or FD also. If you have a security or mutual fund unit worth more than Rs 1 lakh, you must provide your PAN number. Fixed Deposit Scheme requires PAN card for depositing more than 50,000.
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