What is a PAN Card? A must for investment in India

By:fundusearch Thumbup (1)    Thumbdown (0)

Permanent Account Number (PAN) is a national identification number, issued to all taxpayers of India. This number is issued by the Income Tax Office.


This concept is similar to Social Security Number (SSN) in the US. It is mandatory to quote PAN on all return on income. These days the PAN Card number has become mandatory for many activities like opening a bank account, applying for a phone line, receiving salary or professional fees, dealing with real estate buying/selling needs, etc.


The Pan Card consists of:
* PAN Number
* Name
* Date of Birth
* Father’s Name
* Photograph
* Signature

How to get a PAN Card ?
You can apply for your PAN card based on your passport as proof of identity and residence. You can download the PAN form from the internet, fill it up, attach the supporting documents, and send it to your relatives/friends back in India who can forward it to the IT Department. Your PAN card will be delivered to your address within 2 months.


For more information please check out http://incometaxindia.gov.in/PAN/Overview.asp


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