BANKING GENERAL KNOWLEDGE
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Proof of identity
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Proof of a registered tax payer
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Proof of address
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Proof of date of birth
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Detailed explanation-1: -Permanent Account Number (PAN) card is unique alphanumeric combination. It is issued by the Indian Income Tax Department. It serves as an important ID proof, date of birth proof and proof of tax payer. However it can’t be used for the purpose of address proof.
Detailed explanation-2: -The answer is the PAN card. The Permanent Account Number (PAN) card, issued by the Income tax Department, is one of the most important documents nowadays. The card was issued in order to prevent tax evasion by individuals and entities as it links all financial transactions made by a particular individual or entity.
Detailed explanation-3: -Conditions to be satisfied for claiming exemption under rule 114AAB. During the previous year, the non-resident should be earning an income only from an investment made in the specified funds.
Detailed explanation-4: -The income tax PAN and its linked card are issued under Section 139A of the Income Tax Act. It is issued by the Indian Income Tax Department under the supervision of the Central Board for Direct Taxes (CBDT) and it also serves as an important proof of identification.