PAN Card New Rules: As all of you know, these days, one needs all documents-up in order to do any work with the government, or avail of any scheme. There are, of course, many other such documents apart from Aadhar card. For your information, the Aadhar card and PAN card together establish citizenship, and in the absence of PAN Card, no public benefits can be availed or even one’s application for governmental employment can be made.
Of course, everyone knows that there are many advantages of having a Pan card, its importance has increased multiple times over the past few times. Recently the government has set new rules regarding PAN. Actually, as per the new rule, the PAN card must be linked with the Aadhar card. Let’s get to know the new rules of PAN in detail.
Number of digits in PAN card number increased
You all know that former PAN cards used to have a number of 9 digits, but according to the rule that was recently implemented by the government, all new PAN cards being issued henceforth will be 10 digit PAN number. It should be noted that the government says that due to the new facility, digital security would be enhanced. Also, now the data of the PAN card holder will be collected safely.
PAN card will be mandatory for making Big transactions
PAN card will be mandatory for all transactions exceeding 50 thousand dollar value under the provisions of this new law on PAN cards. The requirement has been brought into effect in order to bring in accountability over large transactions and help in the detection of illegal transactions carried out with a PAN card. It is said that a view was taken on the growing online frauds, and hence, the new PAN card law was enacted such that no one can defraud the innocent common man.
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