Why PAN Card is mandatory

PAN card is nothing but your permanent account number, It’s very important for day to financial activities. If you want to open bank account, planning to buy mutual funds etc., let see few important areas where you need PAN Card

1)   If you’re buying / Selling any property more than Rs5L if need to have PAN

2)   Purchase/ Sale of vehicle ( Other than two wheeler)

3)   Deposit of more than Rs50000 as FD in banks

4)   Bank / Post office savings is more than Rs50000

5)   Agreement value more than Rs100000

6)   For Opening Bank account

7)   If your bill for staying / Food / Accommodation is more than Rs 25000

8)   DD value is more than Rs 50000

9)   Income Tax filling

10) To register for commercial / Services tax

11)  Mutual Fund Investments

12)   Applying for phone connection including cell phone connection

13)   For Credit Card Application

14)   For Applying loan

15) Opening DEMAT account etc.,