Pan Card is now one of the mandatory Card that every Indian Citizen should have. There are several advantages of having PAN Card, I am here to explain the 5 most benefits of Pan Card that any one can use in his / her own life:
1) It’s a unique ID Card: Pan Card itself is a unique ID card that means every individual will have unique Pan Card Number that will never match to any one. Every Indian Citizen will have 10 digit unique ID Card that can be used as ID Proof. For example if you are going to open a saving account in Bank then you will have to provide an ID card that should have your Photo and here you can use the Pan Card as an ID Card.
2) For Tax Return: Another one of the most important use of Pan Card is filing Income tax return to Government of India. Every financial year Indian citizen need to file IT Return and without having Pan Card it’s almost impossible to file return.
3) Get Cr. Card: Now a days Cr. Card is a must and used widely for online shopping or to pay bill. After 2011, most of the banks made it mandatory to provide Pan Card to get a new Cr Card.
4) For Fixed Deposit: For any fixed deposit or buying mutual funds or post office saving for 1 year or 5 years, if total amount exceeds Rs 50,000 then you will have to provide Pan Card no.
5) Demat Account: If you do online buying or selling shares via Demat account then Pan Card is mandatory. It’s impossible to open a Demat account without providing your Pan card number.