What is PAN CARD?
Permanent account number or PAN Card is an important financial document in Indian Law. It serves a reference point to all your financial transaction. It is a mandatory document for these things
- Any bank account.
- Any land deals.
- For FDs,
Wondering how can you check your Pan card Status?
Please follow this link to check it.
You should either enter the acknowledgement number that was generated while applying PAN Card or
Your personal details (Name and Date of Birth)
All the financial transaction you do is now monitored by Income tax department using this PAN CARD. You can see FORM 26 AS to see how this PAN Card helps Income tax department and financial institutions to collected tax related data in a centralized place.
The only problem the Indian government is facing a person can open multiple PAN CARD using different credential to forge Income Tax department. Once Aadhaar card would be rolled out the PAN Card would be attached to Aadhaar card so that the Duplicated PAN will become a history
Duplicate Aadhaar card will be a rare thing as it requires your finger prints and iris details