Importance
of PAN Card in Baroda
PAN card i.e. permanent account number
is provided by Income tax department to every income tax payer. But do you know
that Pan Card Service in Baroda
is compulsory and required by following authorities while doing financial
transactions with them:
While
opening a new bank account
It is must to produce a photocopy of PAN card while applying for a new bank
account be it public/private/co-operative or other banks. However in the
recently started financial inclusion program – Pradhan Mantri Jan Dhan Yojana
(PMJDY), PAN card was not required by participating banks. Check out PMJDY
benefits.
Applying
for credit or debit card
Quoting your Pan Card Service in
Baroda is must when applying for debit or credit card. Not submitting
this will straight away result in application getting rejected. Credit card
application rejection can cause problem in getting loan, credit card etc. in
future and impact your credit score. Check out how to reasons of poor credit
score.
Insurance
payment
CBDT has mandated insurance policy
holder to furnish PAN details while making any premium Payment to insurance
companies for amount exceeding Rs. 50,000 in a year.
Purchase
or sell of vehicle
If you are planning to buy or sell
vehicle whose cost is greater than Rs. 5,00,000 then submitting a copy of PAN
card is compulsory.
Buying
or selling property (immovable asset)
Any property transaction for amount
exceeding Rs. 5 Lacs requires this number to be mentioned in the property
document. Buying or selling is impossible if you do not have this. In case, it
is a joint property then Pan Card Service in Baroda
details of each person is required.
Jewellery
purchase
High value jewellery purchase for
amount greater than Rs.5,00,000 (5 Lacs) requires buyer to provide PAN number.
Fixed
or cash deposit
Opening a fixed deposit account or cash
deposit for amount greater than Rs. 50,000 at any bank requires the permanent
account number. Failure to submit the same would result in TDS getting deducted
at 20% if the interest amount of FD account exceeds Rs. 10,000 which is higher
than the current 10%.
New
telephone connection
All telecom companies have been
mandated by Government of India to get PAN details of each applicant for normal
or cellular connection to keep a tab on terrorism, extortion charges etc.
Investing
in securities
Transactions exceeding Rs.50,000 for
equities/mutual fund/debentures/bonds require investor’s PAN card.
Opening
account at broker
For trading in share market, you need
to open account with a share broker for which submitting PAN details is
mandatory. Failure to provide this will result in rejection of your
application.
Rely
on Holaa PAN Card Services
If you are struggling to procure Pan Card Service in Baroda, short of
time, Holaa offers you a reliable medium. From the premises of your home or
office, you can call on their 24X7 Customer Care Number – 7201072010. Believe me; they will ‘WoW’ you with their customer
centric service. You wouldn’t repent, using their service. In fact, you would
feel, you took the right decision.
