According to a report, pancard holders far outnumber tax payers. But this should not surprise any one. Being a tax payer or having taxable income is not a pre condition for issue of PANCARD. the card is required for opening bank account, buying a phone, applying for pass port etc. This is more an identity card than an indication of tax paying status.
Pancard can be used for identification purpose but at the same time, it is equally important for paying tax.
PANCARD is compulsory for payingincome tax. But you need this for mayny pirposes even if your income is below taxable limit. Hence, the number of PANCARD holders is much more than of tax payers. This is the main theme of the thread.
G. K. Ajmani Tax consultant http://gkajmani-mystraythoughts.blogspot.com/
