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author's profile photo Former Member
Former Member

Regarding PAN card

Dear experts,

We usually maintain the PAN details in Infotype-185.

what is the main purpose of maintaining this PAN details.

Please let me know the complete answer.

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4 Answers

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    author's profile photo Former Member
    Former Member
    Posted on Jul 31, 2011 at 07:38 AM

    Dear Kumar,

    you know well that PAN is permanent account number.

    It is mandatory to maintain for all EE's, who are earning in India.

    while processing the payroll system will read PNCHK constant from the T511p, so according to this for the EE's, whom we have not maintained PAN will be directly deducted 20% on earning salary irrespective of TAX SLABS.

    so to avoid this, for those Employees, who are not fall in the tax slabs, we need to maintain PAN details in 0185 IT

    all the best.

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  • author's profile photo Former Member
    Former Member
    Posted on Jul 30, 2011 at 03:04 PM

    PAN number is used for the tax purpose as employee tax purpose which is also being reported in Form 16 and Form 24Q. Even now you are required to maintain for the tax calculation purpose as per IT department rules.

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  • author's profile photo Former Member
    Former Member
    Posted on Jul 31, 2011 at 08:38 AM

    PAN number is an government provided id card to remit the tax on income to government. it is leagal and mandatory requirement

    because currently indian government has compulsion on PAN card for every indian citizen (They may want to catch every white money 😊 LOL , if u dont have pan card - then there will be strainght 20% deduction of taxable income ,

    also this PAN number will be used in form 16 and form 24 for reporting to government.

    hope this helps.

    thanks

    jaydeep jadhav

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  • author's profile photo Former Member
    Former Member
    Posted on Aug 24, 2016 at 07:56 AM

    pan card is is essential for purpose of starting new business use in a banking need of pan card is very. know your pan card

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