Although in India PAN or permanent account number is not mandatory for any individual. However the individual who liable to tax or assesses or persons who are required to file a return of income even on behalf of others, he or she must have a PAN or permanent account number. Any person who earns taxable income in India must file return and obtain PAN. Additionally, if any person, who intends to enter into any kind of financial transaction where mentioning of permanent account number is compulsory , then he/she must have a or permanent account number
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Why are PAN cards Important?
