A PAN Card (Permanent Account Number) is a unique 10-digit alphanumeric ID issued by the Income Tax Department of India. It serves as an important identity document for individuals and businesses.
📌 Why is a PAN Card Needed?
💼 To open a bank account
💰 For transactions above ₹50,000
🧾 To file income tax returns
🏠 When buying property or vehicles
🏦 For investments in FDs, mutual funds, or stock markets
🛡️ Benefits of PAN Card:
Accepted as a valid government ID
Helps prevent tax evasion and black money
Makes banking and financial transactions easier
Mandatory for filing income tax