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Saturday, January 9, 2010

Is PAN compulsory if you don’t file taxes or have income in India?

A Permanent account number card is a card given by the IT Department in India. PAN Number stands for Permanent Account Number. A PAN card has made it much easier for the Income Tax Department to keep track of the people’s tax related transactions and other things as well. It can work as a personal ID for the person also. A PAN number is 10 digits and it is alphanumerical. It is very unique and no two people will have the same PAN number.

What is a PAN?

I PANcard in India can be compared to a SSN in the US. They are very similar. You need to have a PAN number for financial transactions, taxes, investing, and many other things. For Indians living abroad, that want to invest in India, you all need a PAN card. Even though a PAN card comes from India, you do not have to be in India to obtain one. If you have a PAN enquiry then you write into one of the pan assistance providers (agents/brokers) like: www.PanCardNri.com and you can get a pan application form and apply for a pan card online from anywhere in the world. Once you get one from them, then you can also track the status of your pan card too. [READ FULL STORY]

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