An important update is that your PAN card is of no use from June 2024
PAN card (Permanent Account Number) is and ID proof for every Citizen of India, essential for financial transactions.
It is mandatory for filing income tax returns, TDS/TCS transactions, opening bank accounts, fixed deposits, and applying for loans.
PAN is also required for investing in mutual funds, stock market transactions, and purchasing bonds and debentures.
It is crucial for property transactions, rental agreements, large cash deposits and withdrawals, and significant purchases of goods and services.
Additionally, PAN is necessary for foreign travel expenses, buying foreign currency, business registrations, obtaining import-export codes, and making substantial insurance premium payments. Serving as valid identity proof, PAN is also required for vehicle purchases and large hotel and restaurant bills, making it an indispensable document for compliance and smooth financial operations in India.
So watch this video to know why your PAN card is useless, who's PAN card is useless and what to do in this case.
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5 июн 2024