Pan Card: Big relief.. One PAN card is enough.. All identity cards are not needed!

Pan Card: Finance Minister Nirmala Sitharaman made a key announcement about Pan Card Holders in the Union Budget this time. Must know about this. It has been announced that PAN card will be legalized as a single business ID (Pan Card Single Business ID). With this.. business permits and rules of business activities have been relaxed. Businesses will no longer need to use more than 10 identity cards. This is a great relief. To make business easier.. the center has taken this key decision in the budget. As a business identification card (Budget Pan Card) one PAN card is enough.

The Center has also taken steps to further strengthen the ease of doing business in the country. Once again flexibility has been provided in the rules. Businesses have been freed from having more than 10 ID cards. This is a big relief for them. It has taken steps in accordance with the Jan Vishwas Bill introduced last December. Nirmala Sitharaman announced that around 3900 rules related to businesses are being removed.

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From now on, PAN card will become very important and important for businesses. Most of the digital systems under government agencies all accept Pan Card as a digital ID. So far, a total of 13 types of ID cards are being asked. It has EPFO, TIN, PAN, GSTN, ESIC etc. Now only PAN CARD is enough.

• Income Tax Slabs: boons for taxpayers.. changes in slabs.. what is the new tax system? 5 changes..

Income tax department issues PAN card which is alphanumeric (numbers, letters). All the information related to the PAN card is stored in this unique code. Since businesses have only one PAN card for approval, updating KYC will also be easy.

• Income Tax Rebate: Huge relief for wage earners.. Increase in income tax exemption limit

Regarding the 2023-24 budget, the central government has given a big relief to the middle class. In particular, the income tax exemption limit has been increased. Changes have also been made in the tax slabs.

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