Before you earn the money or manage your money, you should have an account with Govt. of India. So that once you earn money, you can pay your Income Tax to Govt. This account is referred as PAN (Permanent Account number). PAN is compulsory needed to every individual whose yearly income comes in the Tax Slab.The PAN is not only needed for paying Taxes, but it also needed for many places like investing money in sharemarket, opening bank account, getting loans from banks etc. in short wherever Transaction of money happens in big way.
So the first step will always be a having PAN. Link for creating or updating PAN details can be found on the Website of Income Tax India https://tin.tin.nsdl.com/pan/index.html . One can also apply via local agents. It takes less than a month in general and around 96 Rs only.
You can know more about PAN at the following link.
http://en.wikipedia.org/wiki/Permanent_account_number
http://www.fastrupee.com/2011/12/how-to-apply-for-pan-card-online.html
So the first step will always be a having PAN. Link for creating or updating PAN details can be found on the Website of Income Tax India https://tin.tin.nsdl.com/pan/index.html . One can also apply via local agents. It takes less than a month in general and around 96 Rs only.
You can know more about PAN at the following link.
http://en.wikipedia.org/wiki/Permanent_account_number
http://www.fastrupee.com/2011/12/how-to-apply-for-pan-card-online.html
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