Why do I need PAN?

Why do I need PAN?

PAN is essential for carrying out most financial/business transactions in India. PAN is required for the following purposes:
  1. Receiving any taxable income – salary, professional fees, etc.
  2. Selling or purchasing assets like immovable property, gold, jewellery beyond a certain limit (₹5 lakh).
  3. Buying investments like bonds, debentures, shares, etc. beyond a certain limit (₹50,000).
  4. Depositing with any single bank ₹50,000.
  5. Making payments for some services beyond a certain limit like hotels, travel, etc. (₹25,000).
  6. Buying mutual funds.
  7. As an identity proof

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