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Importance of Having a PAN Card

Muthoot Finance is one of the most trusted companies in India, allowing people to apply for a PAN Card online in a fast and hassle-free manner. The company also provides a range of financial solutions, including personal loans, gold loans, housing finance, gold coins, and more.<br>t

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Importance of Having a PAN Card

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  1. Importance of Having a PAN Card

  2. A PAN Card or permanent account number is an essential document for Indians. It is a specific 10-digit alphanumeric identity allocated to people by the Income Tax Department under the guidance of the Central Board of Direct Taxes. A PAN Card works as an identity proof and to carry out financial transactions, such as mutual fund investment, purchase or sale of assets above specific limits, and more. Here are a few more reasons why having a PAN card is crucial for Indians.

  3. Opening a Bank Account You require a PAN Card for opening a new bank account in a public, private, or cooperative bank in India. Also, even NRIs have to provide PAN Card details if they want to have NRO accounts for saving their income earned from India.

  4. IT Returns Filing Those who are entitled to Income tax are required to file their IT returns. A PAN Card is essential for filing returns, and this is a key reason people apply for a PAN Card, online or offline.

  5. Sale and Purchase of Property One of the major advantages of a PAN Card is that it is accepted in the documentation related to the sale and purchase of a property. Selling and buying properties requires a lot of money exchange, and if the transaction value is INR 10 Lakhs or more, you mandatorily have to submit a copy of the PAN Card.

  6. About Muthoot Finance Ltd Muthoot Finance is one of the most trusted companies in India, allowing people to apply for a PAN Card online in a fast and hassle-free manner. The company also provides a range of financial solutions, including personal loans, gold loans, housing finance, gold coins, and more.

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