is pan card mandatory

While obtaining a Permanent Account Number (PAN) card may be technically voluntary, its use is mandatory for almost all high-value financial transactions and official purposes in India. You must quote your PAN for filing income tax returns and for transactions such as opening most bank accounts, applying for a credit or debit card, and making investments or cash deposits exceeding ₹50,000. Without a valid PAN, you are subject to a higher rate of Tax Deducted at Source (TDS) and may face restrictions on essential financial services.