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When will I be asked for my PAN card?

The Indian government introduced legislation in 2005 to regulate how money is moved around the country and to make sure everyone paid the tax which was due. People who are living in India and who have salaries paid, have investments or want to sell property all need a PAN card. As well as dealing with the tax authorities, there are lots of everyday situations in which you’ll be asked to show your PAN card. These include:

  • Applying for a loan or credit
  • Opening a new bank account
  • Selling or buying a vehicle
  • Buying airline tickets of a value which exceeds 50,000 rupees (around £585 / $780 US)
  • Buying or selling property

This means that any adult who is living in India, working and either paying rent or a mortgage needs to have a PAN card.