The most important news for PAN card holders, the government will cancel your PAN card!
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The PAN is mandatory for a majority of financial transactions such as opening a bank account, receiving taxable salary or professional fees, sale or purchase of assets above specified limits etc.; especially high-value transactions.
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The primary purpose of the PAN is through bring a universal identification through all financial transactions and into prevent tax evasion by keeping track of monetary transactions, especially those of high-net-worth individuals who can impact the economy.
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The primary purpose of the PAN is through bring a universal identification through all financial transactions and into prevent tax evasion by keeping track of monetary transactions, especially those of high-net-worth individuals who can impact the economy.
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An important point to note would be that once issued, the PAN is not affected by a change of address.The PAN is unique to each individual and is valid for the lifetime of the holder, throughout India.
An important point to note would be that once issued, the PAN is not affected by a change of address.The PAN is unique to each individual and is valid for the lifetime of the holder, throughout India.
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