![]() 50,000/-, inclusding purchases made in foreign currencies, require a PAN. Foreign travel: Cash payments to do with foreign travel for an amount above Rs.A PAN is required so as to be quoted in the sale or purchase deed for any immovable property valued at Rs. The purchase and sale of immovable assets: one of the benefits of owning a PAN card is the eligibility of an individual or entity to enter into transactions concerning the sale or purchase of assets.Opening a Demat account: A PAN card is also a must in order for any individual or entity to open a Demat account so as to hold shares in a dematerialized form.Only under the Pradhan Mantri Jan Dhan Yojana can a person open a zero balance account by using voter card or any other proof of identity. Opening a bank account: Any public, private, or co-operative banks insist on an individual or company having a bank account in their name in order to open a savings or current account.A Tax Registration Number (TRN) is needed for a business, and that can be obtained only if it has a PAN. Opening a business: in order to start a business, a company or business is required to have a PAN registered in its name. ![]() The assessee is required to have a PAN linked to their bank account in order to claim a tax refund.
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