PAN was to estimate the total tax generated in the country, so that the tax rate can be fixed properly. Benefit from the PAN to the Income Tax Department is that it helps you keep track of all your financial transactions and thus determine the rate at which you (or the company) should be taxed. It is a useful tool to estimate the total tax revenues presence in the country.
Benefits that you can enjoy the presence of PAN card is as follows:
PAN card bearing a photograph and the name and address. Thus it is accepted as a guide and a national identity.
Without PAN card, you will be taxed at the highest possible price. If you pay TDS (TDS), which cannot be counted without PAN card and you could end up paying taxes twice.
PAN number is unique for each PAN card holder. You may change your name and address. Your card has been lost or stolen. But the PAN will not change. So, the possibility of misuse is rare.
As proof of identity, PAN card is sure, reliable, nationally recognized and fixed.
With a valid PAN card, you can easily access various financial transactions. You can get a fixed phone and cell phone connection. You can open a demat account. You can buy and sell real estate, stocks and much more.
If you are an NRI, you can easily buy property or engage in business in India with the help of your PAN card without submitting tax returns.
Simple account can be opened and run easily with the guardian PAN card.
Not only does the PAN have all these great advantages, but also must continue in the most ordinary transactions. The very simplified process. Therefore, you should make no delay in getting your PAN card