Hello, Bengaluru!
Earlier, to open a bank account, PAN card was an optional document but from Jan 1, 2016, Government of India has made it a mandatory document. Excluding Jandhan account, to open any other bank and government accounts, one needs to have a PAN card.
The Government of India is looking forward to bring some major improvements in its financial strategy and with regard to this, tax and audit department of India has released a new law system. Hasmukh Adhiya ( Tax dept) says, “this step was essential to control the flow of black money in the country”.
Pan card is also mandatory for the following financial transactions
- Pan card is compulsory to buy a new property worth Rs. 10 lakhs and above. Earlier this limit was Rs. 5 lakh.
- Pan card is compulsory for the transaction of bullion ( gold, silver and other metals) above Rs. 2 lakh. Earlier this limit was Rs. 5 lakh.
- For the hotel transaction above Rs. 50,000 and to buy a ticket for overseas travel, Pan card is now compulsory.
- For all the cash transaction above Rs. 2 lakh, Pan card is compulsory.
Source: Publictv.in
As it is mandatory to have a PAN card to open a bank account, make your PAN card as soon as possible. We, Bro4u.com provides the reliable and expert PAN card consultants to your doorstep.
How it works
- Visit bro4u.com
- Navigate to pan card page
- You will see the consultants nearby your location
- Book any of the Pan card consultants. They will visit your place, collect the documents, process it and help you in getting a PAN card.
- If all the documents are proper, you’ll get a PAN card within 15 days.
Get your PAN card being at home. For more info, call 080-30323232
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