PAN stands for Permanent Account Number. It’s a 10-digit alphanumeric identifier issued by the Income Tax Department of India. In essence, it’s like a unique tax identification number for Indian taxpayers.
Here’s a breakdown of why PAN is important:
- Tracks Tax Information: The PAN system links all your tax-related information under one number. This includes things like tax payments, tax deducted at source (TDS), income tax returns, and specified financial transactions.
- Verification and Identification: PAN acts as a vital proof of identity and helps verify your tax filings. It’s required for various financial transactions in India, such as opening bank accounts, applying for loans, investing in mutual funds, or even buying real estate.
Obtaining a PAN is generally recommended for any Indian citizen who pays or is liable to pay income tax. It’s also mandatory for certain entities like businesses, trusts, and charitable organizations.
You can also use our PAN Adhaar linking service at Rs.2000 only.
You can also use our “PAN Inoperative to Operative for NRI” service at Rs.4000 only.
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