The basic benefit of having a PAN card is that it can double up as a photo-identity proof for you. In India, the PAN card is accepted as a valid photo ID proof just like documents such passports, voter identity cards etc. So, having this card will be of use many times throughout your life whenever you need to furnish proof of identity.
But the most important benefit of having a PAN card arises due to the fact that a valid PAN is now mandatory for various financial transactions in India. Some of them are:
- Open dematerialized accounts for share trading.
- Depositing sums greater than or equal to INR 50000 in banks all over India.
- Investing in shares, mutual funds in execs of