Does PAN Card necessary for all citizens of India?

Any individual with yearly income exceeds the basic exemption limit (Rs 2 lakh at present) or any organization/business exceed turnover of Rs 5 lakh is required to obtain a Permanent Account Number (PAN) by the Income-tax Act in India. In addition; importers, exporters and persons liable to excise duty, service tax and sales tax is also required to have a PAN Card. Note that if you do not have a PAN Card, The law made it mandatory for payers to withhold tax at higher ratesfor all your payments. This include your salary, bank interest or any other income. Permanent Account Number (PAN) is made compulsory from many cash transactions. The list of these transaction is keep growing. For example; it is required to provide your PAN number while payinghotel bills or buying air tickets for foreign travels of Rs 50000 and above. So the answer to your question is; no it’s not necessary but if you are liable to pay income tax, then yes it’s required. Similar Questions: Is PAN number is mandatory for LehLadakh (J&K) people? The above answer is applicable for people from all states in India including Jammu & Kashmir.