4 Replies to “how does a pan work? if it is coted on transaction how it helps in tax reduction if it is a student account?”

  1. any body can hold a pan.if ur 18 and your income is more than 90000 per year.than your will pay the tax.the pan card show that the money you have is your income or your propperty income.or in otherwords,its a white money

  2. Pan card is just a identity card for a tax payer or investor.
    it has nothing do with tax reduction. and it is not restricted to students alone.
    how would a student get more than rs 50,000 at one time to deposit in a bank, this is a mystery for me.
    U need a Pan Card for investing in shares,mutual funds and to have any transation,any where, for any amoiunt exceeding rs 50,000/-
    than baks will not accept more than rs 49,999/- in cash as a depoist in your account if u do not have a pan card.

  3. Pan is permanent account number n you must hv a pan card if your income is more than 1lac.n it has nothing to do with student.you have to file a return at the end of financial year n to file your return this pan is your no. n your tax ll be calculated.

  4. it is advised to have a pan card.
    it helps in doing any business transaction any time IN future.
    it also is useful at time of a foreign visit in future for getting passports, visas foreign exchange etc

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