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Saturday, September 11, 2010

Is Indian PAN Card compulsory for NRI – Non Resident Indian

Lose your PAN card?
The document of identity, known as a ration card, has been replaced by the PAN card. A PAN card is important in verifying your antecedent and is used as a passport to becoming financially free. Below is some help if you lose this document.

In the United States of America , the Social Security card is extremely important. It identifies every resident taxpayer. The Indian PAN Number is equal to the Social Security card.

What does PAN stands for?
PAN is abbreviated from Permanent Account Number. It is a card that has a 10-digit code on it. It is given to all taxpayers. Here is an example of a PAN: JBPKSD4779.

Why is a PAN card necessary?
You need a PAN card when you are filing your income tax returns and when filing challans. As soon as you earn any income in India , you need to get your PAN immediately. You will not be able to open a bank account in India without a PAN card. [READ FULL STORY]

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