Advertisements
Advertisements
Question
What is PAN? Why is it required?
Solution
Permanent Account Number (PAN) is a ten-digit alphanumeric number, issued by the Income Tax Department.
It is required because it enables the department to link all transactions of the enterprise with the department. These transactions include tax payments, TDS/ TCS credits, returns of income/wealth/ gift/FBT, etc.
APPEARS IN
RELATED QUESTIONS
What is a proforma income statement?
What is TAN?
What are the key areas, for a sound financial plan to work?
What are the major financial items that should be included in the financial plan?
What is a financial plan? What are its objectives?
Explain the investment decision under the financial plan? In which areas should the investment should be on the basis of priority?
The entrepreneur should develop a sound financial plan as timely availability of funds in the right volume is key to entrepreneurial success. In light of the given statement, examine the relevance of a financial plan for an entrepreneur.
