Successfully reported this slideshow.
We use your LinkedIn profile and activity data to personalize ads and to show you more relevant ads. You can change your ad preferences anytime.
“TO STUDY THE PERCEPTION OF PEOPLE REGARDING PAN CARD ”
Tirpude Institute of Management Education Page 1
Introduction
PAN,...
“TO STUDY THE PERCEPTION OF PEOPLE REGARDING PAN CARD ”
Tirpude Institute of Management Education Page 2
Buying or selling...
“TO STUDY THE PERCEPTION OF PEOPLE REGARDING PAN CARD ”
Tirpude Institute of Management Education Page 3
Introduction To i...
“TO STUDY THE PERCEPTION OF PEOPLE REGARDING PAN CARD ”
Tirpude Institute of Management Education Page 4
 Mutual Funds – ...
“TO STUDY THE PERCEPTION OF PEOPLE REGARDING PAN CARD ”
Tirpude Institute of Management Education Page 5
Birla Global Fina...
“TO STUDY THE PERCEPTION OF PEOPLE REGARDING PAN CARD ”
Tirpude Institute of Management Education Page 6
COMPANY PROFILE
C...
“TO STUDY THE PERCEPTION OF PEOPLE REGARDING PAN CARD ”
Tirpude Institute of Management Education Page 7
Historical Backgr...
“TO STUDY THE PERCEPTION OF PEOPLE REGARDING PAN CARD ”
Tirpude Institute of Management Education Page 8
a book on Mutual ...
“TO STUDY THE PERCEPTION OF PEOPLE REGARDING PAN CARD ”
Tirpude Institute of Management Education Page 9
INTRODUCTION TO R...
“TO STUDY THE PERCEPTION OF PEOPLE REGARDING PAN CARD ”
Tirpude Institute of Management Education Page 10
PROBLEM DEFINATI...
“TO STUDY THE PERCEPTION OF PEOPLE REGARDING PAN CARD ”
Tirpude Institute of Management Education Page 11
LITERATURE REVIE...
“TO STUDY THE PERCEPTION OF PEOPLE REGARDING PAN CARD ”
Tirpude Institute of Management Education Page 12
Bihar & Uttar Pr...
“TO STUDY THE PERCEPTION OF PEOPLE REGARDING PAN CARD ”
Tirpude Institute of Management Education Page 13
In terms of abso...
“TO STUDY THE PERCEPTION OF PEOPLE REGARDING PAN CARD ”
Tirpude Institute of Management Education Page 14
According to the...
“TO STUDY THE PERCEPTION OF PEOPLE REGARDING PAN CARD ”
Tirpude Institute of Management Education Page 15
Takenas referenc...
“TO STUDY THE PERCEPTION OF PEOPLE REGARDING PAN CARD ”
Tirpude Institute of Management Education Page 16
Research Gap
Fro...
“TO STUDY THE PERCEPTION OF PEOPLE REGARDING PAN CARD ”
Tirpude Institute of Management Education Page 17
OBJECTIVE OF STU...
“TO STUDY THE PERCEPTION OF PEOPLE REGARDING PAN CARD ”
Tirpude Institute of Management Education Page 18
SCOPE OF THE STU...
“TO STUDY THE PERCEPTION OF PEOPLE REGARDING PAN CARD ”
Tirpude Institute of Management Education Page 19
Limitation of st...
“TO STUDY THE PERCEPTION OF PEOPLE REGARDING PAN CARD ”
Tirpude Institute of Management Education Page 20
RESEARCH METHODO...
“TO STUDY THE PERCEPTION OF PEOPLE REGARDING PAN CARD ”
Tirpude Institute of Management Education Page 21
Analysis of data...
“TO STUDY THE PERCEPTION OF PEOPLE REGARDING PAN CARD ”
Tirpude Institute of Management Education Page 22
Results related ...
“TO STUDY THE PERCEPTION OF PEOPLE REGARDING PAN CARD ”
Tirpude Institute of Management Education Page 23
Results related ...
“TO STUDY THE PERCEPTION OF PEOPLE REGARDING PAN CARD ”
Tirpude Institute of Management Education Page 24
Results for perc...
“TO STUDY THE PERCEPTION OF PEOPLE REGARDING PAN CARD ”
Tirpude Institute of Management Education Page 25
Results for perc...
“TO STUDY THE PERCEPTION OF PEOPLE REGARDING PAN CARD ”
Tirpude Institute of Management Education Page 26
Results for perc...
“TO STUDY THE PERCEPTION OF PEOPLE REGARDING PAN CARD ”
Tirpude Institute of Management Education Page 27
RESULTS OF WHETH...
“TO STUDY THE PERCEPTION OF PEOPLE REGARDING PAN CARD ”
Tirpude Institute of Management Education Page 28
RESULTS OF WHETH...
“TO STUDY THE PERCEPTION OF PEOPLE REGARDING PAN CARD ”
Tirpude Institute of Management Education Page 29
RESULTS OF WHETH...
“TO STUDY THE PERCEPTION OF PEOPLE REGARDING PAN CARD ”
Tirpude Institute of Management Education Page 30
Results regardin...
“TO STUDY THE PERCEPTION OF PEOPLE REGARDING PAN CARD ”
Tirpude Institute of Management Education Page 31
Findings and con...
“TO STUDY THE PERCEPTION OF PEOPLE REGARDING PAN CARD ”
Tirpude Institute of Management Education Page 32
Recommendations ...
“TO STUDY THE PERCEPTION OF PEOPLE REGARDING PAN CARD ”
Tirpude Institute of Management Education Page 33
Bibliography
 h...
“TO STUDY THE PERCEPTION OF PEOPLE REGARDING PAN CARD ”
Tirpude Institute of Management Education Page 34
Annexure 1: Ques...
“TO STUDY THE PERCEPTION OF PEOPLE REGARDING PAN CARD ”
Tirpude Institute of Management Education Page 35
Annexure 2: Pers...
“TO STUDY THE PERCEPTION OF PEOPLE REGARDING PAN CARD ”
Tirpude Institute of Management Education Page 36
Annexure 3: Prof...
Upcoming SlideShare
Loading in …5
×

“To study the perception of people regarding pan card”

89 views

Published on

“TO STUDY THE PERCEPTION OF PEOPLE REGARDING PAN CARD”

Published in: Services
  • Be the first to comment

“To study the perception of people regarding pan card”

  1. 1. “TO STUDY THE PERCEPTION OF PEOPLE REGARDING PAN CARD ” Tirpude Institute of Management Education Page 1 Introduction PAN, or permanent account number, is a unique 10-digit alphanumeric identity allotted to each tax payer by the Income Tax Department under the supervision of the Central Board of Direct Taxes. It also serves as an identity proof. PAN is mandatory for financial transactions such as receiving taxable salary or professional fees, sale or purchase of assets above specified limits, buy mutual funds and more. The primary objective of PAN is to use a universal identification key to track financial transactions that might have a taxable component to prevent tax evasion. The PAN number remains unaffected by change of address throughout India. Importance of PAN Card in India: While opening a new bank account : It is must to produce a photocopy of PAN card while applying for a new bank account be it public/private/co-operative or other banks. However in the recently started financial inclusion program – Pradhan Mantri Jan Dhan Yojana (PMJDY), PAN card was not required by participating banks Applying for credit or debit card: Quoting your PAN is must when applying for debit or credit card. Not submitting this will straight away result in application getting rejected. Credit card application rejection can cause problem in getting loan, credit card etc. in future and impact your credit score. Check out how to reasons of poor credit score. Insurance payment: CBDT has mandated insurance policy holder to furnish PAN details while making any premium payment to insurance companies for amount exceeding Rs. 50,000 in an year. Purchase or sell of vehicle: If you are planning to buy or sell vehicle whose cost is greater than Rs. 5,00,000 then submitting a copy of PAN card is compulsory. Buying or selling property (immovable asset): Any property transaction for amount exceeding Rs. 5Lakhs requires this number to be mentioned in the property document.
  2. 2. “TO STUDY THE PERCEPTION OF PEOPLE REGARDING PAN CARD ” Tirpude Institute of Management Education Page 2 Buying or selling is impossible if you do not have this. In case, it is a joint property then PAN details of each person is required. Jewellery purchase: High value jewellery purchase for amount greater than Rs.5,00,000 (5Lakhs) requires buyer to provide PAN number. Fixed or cash deposit: Opening a fixed deposit account or cash deposit for amount greater than Rs. 50,000 at any bank requires the permanent account number. Failure to submit the same would result in TDS getting deducted at 20% if the interest amount of FD account exceeds Rs. 10,000 which is higher than the current 10%. Uses of PAN card:  The PAN card carries your photograph, name and address. Hence it serves as a nationally accepted proof of identity.  Without a PAN card, you will be taxed at the highest rate possible. If you pay TDS (tax deducted at source), that cannot be counted without a PAN card and you may end up paying tax twice.  The PAN number is unique to every PAN card holder. Your name and address may change; your card may get lost or stolen; but the PAN will remain unchanged. So, the possibility of misuse is rare.  As an ID proof, the PAN card is sure, dependable, nationally recognized and unchanging.  With a valid PAN card, you can easily enter into different financial transactions. You can obtain landline and cell phone connection; you can open demat account; you can buy and sell property and share and much more.  If you are NRI, you can easily buy property or engage in business in India with the help of your PAN card without filing tax returns.  A minor account can be opened and operated easily with the PAN card of the guardian.
  3. 3. “TO STUDY THE PERCEPTION OF PEOPLE REGARDING PAN CARD ” Tirpude Institute of Management Education Page 3 Introduction To industry Type of industry: Financial service Industries Financial services can be defined as the products and services offered by institutions like banks of various kinds for the facilitation of various financial transactions and other related activities in the world of finance like loans, insurance, credit cards, investment opportunities and money management as well as providing information on the stock market and other issues like market trends Financial services refer to services provided by the finance industry. The finance industry encompasses a broad range of organizations that deal with the management of money. Among these organizations are banks, credit card companies, insurance companies, consumer finance companies, stock brokerages, investment funds and some government sponsored enterprises. Various types of financial service industries:  Banking – Under this an individual can deposit his or her money and can get return in the form of interest and also borrowers can get loan by paying interest to bank periodically.  Insurance – By using this one can get peace of mind as one can buy insurance policies like life insurance, fire, marine, health and general insurance which ensures that person in the event of any mishap can get his or her money back from insurance company.  Stock Market – One can invest his or her funds into stock market also where one gets dividends and also capital appreciation, if one makes right investment decision than return from equity markets are much greater than that of fixed deposits parked in banks.  Treasury or Debt instruments – Under this one can invest his or her money into government bonds and also debt instruments of private and public firms.  Wealth Management – There are many firms where one can jus park their money and then these companies invest money across different assets classes like commodity, derivatives, money market, currency etc… in order to generated superior returns for their clients.
  4. 4. “TO STUDY THE PERCEPTION OF PEOPLE REGARDING PAN CARD ” Tirpude Institute of Management Education Page 4  Mutual Funds – These funds track asset class and generate returns accordingly so a debt fund will track returns of debt and money market, an equity mutual fund would give returns according to performance of stock market and so on.  Tax consultants and audit firms – These organizations help people in determining their tax liability, advising their clients on how to save tax and also filing of their tax returns on time. Functions of Financial Services:  Facilitating transactions (exchange of goods and services) in the economy.  Mobilizing savings (for which the outlets would otherwise be much more limited).  Allocating capital funds (notably to finance productive investment).  Monitoring managers (so that the funds allocated will be spent as envisaged).  Transforming risk (reducing it through aggregation and enabling it to be carried by those more willing to bear it). MAJOR PLAYERS IN FINACIAL SERVICE INDUSTRY SBI Capital Markets Limited: This happens to be the oldest organizations in the sphere of capital markets in India. Established in 1986 in the form of an ancillary of SBI, they have ranked second in Asia's Project Advisory services. The company is a traiblazer in privatization and securitization. The subsidiaries of SBI Capital Markets are SBICAPs Ventures Ltd., SBICAP Trustee Co.Ltd. and many others. Bajaj Capital Limited: One of the major financial services companies in India, Bajaj Capital offers best investment advisory and financial planning services. The services are meted out to the institutional investors, NRIs, corporate houses, individual investors, high network clients as well. DSP Merrill Lynch Limited: A major player in the equity and debt market in India, DSP Merrill Lynch offers financial advisers to varied corporations and institutions. With an array of wealth management and investor services, their services are customized in a manner that they meet every investor requirement.
  5. 5. “TO STUDY THE PERCEPTION OF PEOPLE REGARDING PAN CARD ” Tirpude Institute of Management Education Page 5 Birla Global Finance Limited: The subsidiary of Aditya Birla Nuvo Ltd., this company has operations in the corporate finance and capital market arena. An alliance with Sun Life Financial of Canada, they have given birth to Birla Sun Life Insurance Co Ltd., Birla Sun Life Distribution Co. and alike. Housing Development Finance Corporation: A best financial solution for home loans, NRI loans, HDFC is the one stop destination for personal finance. With overseas branches in Singapore, Kuwait, Qatar, Saudi Arabia and many others, HDFC has been going great guns every year. PNB Housing Finance Limited: This company offers premium solutions for relieving the borrower segment. The Home Loan Life Insurance Plan of this has come in conjunction with TATA AIG, with the lowest premium when compared to the peers. ICICI Group: Wide arena of financial products and services, ICICI Group has solutions like InstaBanking, Online Trading, Insta Insure, ICICI Bank I mobile etc. Providing high class financial services in all segments of the society, ICICI Group deals with Mutual Fund, Private Equity, Securities, and Life Insurance etc. LIC Finance Limited: It is the biggest Housing Finance Company in India, providing finance to individuals for repair or construction or renovation of any old or new apartment or house. L & T Finance Limited: Established in 1994 by the Larsen and Turbo group, this has become a significant name in the financial sector. Funds for automobiles, Agricultural Instruments, secured loans; they have all types of loans for a long tenure. Karvy Group: With Mutual Funds Services, Depository Services, Debt Market Services, Investment Banking and many others, Karvy Group has spanned across the domestic
  6. 6. “TO STUDY THE PERCEPTION OF PEOPLE REGARDING PAN CARD ” Tirpude Institute of Management Education Page 6 COMPANY PROFILE CIN U74990MH2010PTC198483 Company Name MONEY BEE INSTITUTE PRIVATE LIMITED Company Status Active RoC RoC-Mumbai Registration Number 198483 Company Category Company limited by Shares Company Sub Category Non-govt company Class of Company Private Date of Incorporation 05 January 2010 Age of Company 6 years, 8 month, 19 days Activity Business activities n.e.c. Authorised Capital: 100,000.00 Paid Up Capital: 100,000.00
  7. 7. “TO STUDY THE PERCEPTION OF PEOPLE REGARDING PAN CARD ” Tirpude Institute of Management Education Page 7 Historical Background of the Organization Money Bee Institute's founder, Mr. AshutoshWakhare is an Engineer and a Finance Graduate with 6 years of work experience. He has worked with CNBC-TV18 and TIMES NOW as an Equity Research Analyst and with Kotak Securities as a Branch Manager. MBI is a rapidly growing organization as can be seen from the progress it has made since its incorporation in Apr '07. We have a strong team of industry experienced Faculty members and are privileged to be the trainers of choice for some of the leading names in the financial services space, including stock market regulator SEBI. MBI has a wide array of training programs, designed & delivered by industry experienced Faculties to meet the varied requirements of our audience. We provide trainings on Mutual Funds, Personal Finance, Equity Markets, Debt Markets, Fundamental / Technical Analysis, Portfolio Management, etc. MONEY BEE is both the name and idea behind the company. MONEY + HONEYBEE = MONEYBEE Money bee is an emerging Investment Advisory company managing assets for its corporate and private clients worldwide. It is in the nature of the BEE to convert the collected nectar to HONEY. It is in the nature of the MONEY BEE to compound savings into WEALTH. A corporate vision to deliver absolute quality and a foresight to introduce specialized services has been the moving forces behind MONEYBEE Institute Pvt. Ltd. We at Money Bee aim to be part of the movement where Indian youngster and working professional come forward in investing activity. MBI is a rapidly growing organization as can be seen from the progress it has made since its incorporation in Apr 07. We have a strong team of industry experienced Faculty members and are privileged to be the trainers of choice for some of the leading names in the financial services space, including stock market regulator SEBI. We provide trainings on various topics related to investments. Till now we have trained around 100000 students. We design content for various organizations and have authored
  8. 8. “TO STUDY THE PERCEPTION OF PEOPLE REGARDING PAN CARD ” Tirpude Institute of Management Education Page 8 a book on Mutual Funds for The Bombay Stock Exchange. SEBI ED Shri. R. K. Nair has graced the book by writing its foreword. The book titled Investing in Mutual Funds is designed for first time investors and is currently distributed as the study material for BSE courses on Mutual Fund. We are also closely associated with the National Stock Exchange in content designing and have designed an NCFM module for the NSE titled Mutual Funds A Beginners Module Money Bee wants to be assured that Indian individuals will be well equipped to manage industry as well as his own money effectively. We are a Nagpur based organization engaged in the business of Financial Trainings. We are associated with a host of financial institutions including some of the biggest names in Indian financial services space. We take immense pride in being associated with SEBI as trainers in its investor awareness initiative. Till date ur team members have provided trainings to over 1,00,000 investors, students and industry professionals across more than 25 cities of India for respected names like NISM (established by SEBI), BSE, NSE, SBI MF, Kotak MF, ICICI Prudential MF, Kotak Securities, Principal MF, Baroda Pioneer MF, etc. DIRECTORS & KEY PERSONS DIN/DPIN/PAN Director Name Appointment Date Designation 02750714 ASHUTOSH MADHUSUDAN WAKHARE 05/01/2010 Founder/Director 02635813 ANAND WAKHARE 05/01/2010 Director 06877522 SHIVANI SUDHANSHU DANI 23/05/2014 Director
  9. 9. “TO STUDY THE PERCEPTION OF PEOPLE REGARDING PAN CARD ” Tirpude Institute of Management Education Page 9 INTRODUCTION TO RESEARCH PROBLEM PAN enables the department to identify/ link all transactions of the PAN holder with the department. These transactions include tax payments, TDS/TCS credits, returns of income, specified transactions, correspondence etc, and so on. It facilitates easy retrieval of information of PAN holder and matching of various investments, borrowings and other business activities of PAN holder. Importance of PAN Cards for Individuals PAN Cards are not only mandatory for all income-earning individuals, but also provide a number of benefits as follow:  To sell or purchase immovable properties within the country.  To purchase automobiles.  To purchase banker’s draft, checks and pay orders.  To purchase debentures or shares that exceed Rs.1 lakhs in value.  To make deposits in excess of Rs.50,000.  To open a demat account, avail a credit card, and starting a bank account.  A PAN card can also be used as a valid photo ID proof.  To enter into various financial transactions.  To obtain cell phone and landline connection.  PAN Cards are especially useful for NRIs as they make it relatively simple to purchase property or engage in business within the country.  To open minor accounts. PAN card being one of the important document so why many people don’t have PAN card looking to this few question arise:  Why people don’t make PAN cards?  Are people aware of PAN card’s importance?  Are people aware of use of PAN?  What do people perceive regarding PAN card?
  10. 10. “TO STUDY THE PERCEPTION OF PEOPLE REGARDING PAN CARD ” Tirpude Institute of Management Education Page 10 PROBLEM DEFINATION PAN being an essential document for individual to hold and is widely used for various purposes. It is also important for taking the advantage of the government scheme still there is large volume of people that are not having an PAN card. The study is to be carried out to find out the people perception regarding PAN card The purpose of the study to find  What is the percentage of the people holding the PAN card.  What is the ratio of male and female holding the PAN card.?  What is the percentage of the PAN card holder according to their age qualification, occupation and income status?  What do people perceive regarding whether it is mandatory to pay tax if one have PAN card.?  Are people aware of the importance of PAN card. ?  What do people perceive regarding the filing the returns?.  Are people aware of the uses and importance of PAN card?
  11. 11. “TO STUDY THE PERCEPTION OF PEOPLE REGARDING PAN CARD ” Tirpude Institute of Management Education Page 11 LITERATURE REVIEW Takenas reference from :Faclty:Making Data meaning full Bihar & Uttar Pradesh among the states with lowest PAN Cards per 1000 population Permanent Account Number (PAN) is an alpha numeric code that is one of the forms of identification for Citizens or Organizations. PAN is primarily used for paying Income tax and is to be quoted during various financial transactions or payments. PAN is supposed to prevent tax evasion by tracking all financial transactions of an individual citizen or organization. Close to 3% of the Indian Population pays Income Tax which is way below the global average. Holding a PAN card is the first step before paying Income Tax. There are only 203 PAN Cards for every 1000 population in the country as per government data. Delhi leads the way As expected, Delhi has the highest number of PAN Cards per 1000 population in the larger states. This could be because of a large presence of central government establishments coupled with a large number of people working in the organized sector. Delhi has 664 PAN cards for every 1000 population followed by Chandigarh with 644. Goa & Maharashtra are next in the list with 523 and 380 PAN cards respectively, for every 1000 population. Haryana and Gujarat are 5th and 6th in the list respectively. The analysis did not take into consideration, some of the smaller Union Territories (UTs) because of their lower population.
  12. 12. “TO STUDY THE PERCEPTION OF PEOPLE REGARDING PAN CARD ” Tirpude Institute of Management Education Page 12 Bihar & Uttar Pradesh at the bottom Mizoram has the lowest number (18) of PAN Cards for every 1000 population. Bihar is second from the bottom with just 96 cards. Uttar Pradesh & Chhattisgarh are also in the bottom five. Number of cards in Bihar for every 1000 population is less than half the national average. Almost half the states are below the national average while half are above the national average. Surprisingly, Andhra Pradesh (including Telangana) & Kerala with relatively better per capita income are in the bottom half.
  13. 13. “TO STUDY THE PERCEPTION OF PEOPLE REGARDING PAN CARD ” Tirpude Institute of Management Education Page 13 In terms of absolute numbers, there are 24.56 crore PAN cards in the country. Close to 50% of these cards are from five states of Maharashtra, Uttar Pradesh, West Bengal, Andhra Pradesh and Tamil Nadu. Incidentally these are also the states with the highest population. Only Bihar and Madhya Pradesh are not part of the top five despite a large population. Nine (9) states have more than one crore PAN Cards. Among all the states, only Mizoram has less than one lakh PAN cards. Eight (8) states have less than 10 lakh PAN cards. Takenas reference from : THE huffing ton post Increase in PAN card holder The number of PAN card holders has increased from 4 crore 36 lakh in Assessment Year (AY) 2011-12 to 5 crore 20 lakh in AY2013-14. This is an increase of 19.37% in two years. Individuals account for 94.13% of all PAN Card holders. Firms and comPANies account for 3.34% of PAN cards issued.
  14. 14. “TO STUDY THE PERCEPTION OF PEOPLE REGARDING PAN CARD ” Tirpude Institute of Management Education Page 14 According to the 2011 Census, the population of India is 121 crore. This means that only 4.3% of India's population has PAN cards or pays any kind of direct tax. The actual number of people who filed a tax return in AY 2012-13 stood at less than 3 crore 12 lakh The truly dreadful part is that according to this data, out of this country's 121 crore population, only 11 lakh people earn a salary of more than ₹10 lakh per annum. That means that less than 0.091% of all the people in the country have a salary income of more than ₹10 lakh.
  15. 15. “TO STUDY THE PERCEPTION OF PEOPLE REGARDING PAN CARD ” Tirpude Institute of Management Education Page 15 Takenas reference from : Zee News India PAN card is required for following from January 2016  Furnishing PAN card will be mandatory for cash transactions such as hotel or foreign travel bills exceeding Rs 50,000.  Besides, PAN will be a must for all transactions, including purchase of jewellery, above Rs 2 lakhs in cash or through card.  PAN will also be mandatory on purchase of immovable property of over Rs 10 lakh. This will be a relief to small home buyers as previously the government had proposed to make PAN mandatory for property worth Rs 5 lakh.  Quoting of Permanent Account Number (PAN) will also be mandatory for term deposits exceeding Rs 50,000 at one go or Rs 5 lakh in a year with banks, Post Offices and NBFCs.  The notification said PAN would be mandatory for payments of more than Rs 50,000 for cash cards or prepaid instruments as well as for acquiring shares of unlisted comPANies for Rs 1 lakh and above.  It has also been made mandatory for opening all bank accounts except Pradhan Mantri Jan Dhan Yojana accounts.  Making cash deposit of more than Rs 50,000 or purchase of bank draft/pay orders/bankers cheque of equal denomination on a single day, payment of life insurance premium of Rs 50,000 in a year would also require quoting of PAN.  In keeping with the government's thrust on financial inclusion, opening of a no-frills bank account such as a Jan Dhan account will not require PAN. Other than that, the requirement of PAN applies to opening of all bank accounts including in co-operative banks.  Any person not having a PAN but undertaking a transaction which requires a mandatory quoting of it, will have to fill up 'Form No. 60'. Under the 'Form No. 60', an individual has to provide his personal details like name, address,date of birth, mobile number and mode of transaction like cash,cheque, card, draft or banker's cheque, online transfer or any other.
  16. 16. “TO STUDY THE PERCEPTION OF PEOPLE REGARDING PAN CARD ” Tirpude Institute of Management Education Page 16 Research Gap From the above reference we got to know that the percentage of PAN holders is very low. The above reference just give the statistic regarding the PAN holders the reason behind the low percentage is not been there in any above reference hence researcher thought of knowing the cause behind the low percentage and hence decided to know about the awareness in general public regarding PAN card and try to know the perception of the public towards PAN card hence this research is being carried out.
  17. 17. “TO STUDY THE PERCEPTION OF PEOPLE REGARDING PAN CARD ” Tirpude Institute of Management Education Page 17 OBJECTIVE OF STUDY  To find out average percentage of people having PAN card  To find out class of people having PAN card  To find out perception of people regarding PAN card  To find out awareness in public about PAN card
  18. 18. “TO STUDY THE PERCEPTION OF PEOPLE REGARDING PAN CARD ” Tirpude Institute of Management Education Page 18 SCOPE OF THE STUDY  The study is carried out to study percentage of people holding PAN  The study is carried out to categorize the holders in domain of gender, age, income status, occupation and qualification  The study is carried out for few very essential uses of the PAN card all the uses are not considered  The study is carried out to study their perception related to filling the returns.  The study is carried to check there view on payment of taxes if one have PAN card.  The study is carried only in one of the region of Nagpur.
  19. 19. “TO STUDY THE PERCEPTION OF PEOPLE REGARDING PAN CARD ” Tirpude Institute of Management Education Page 19 Limitation of study  The study is carried out only in jaripatka, Nagpur other areas are not considered.  The factors of age, occupation, qualification, gender and income status are considered others are kept constant.  The study is carried out only for sample size of fifty.  All the uses of PAN card are not considered only few very important are considered.
  20. 20. “TO STUDY THE PERCEPTION OF PEOPLE REGARDING PAN CARD ” Tirpude Institute of Management Education Page 20 RESEARCH METHODOLOGY Source of data collection  Primary data o Questionnaire: In this method a questionnaire is given to the person concerned with a request to answer the questions and return the questionnaire. This method is most extensively applied in various researches of human and economic geography.  Secondary data o Secondary data was collected through news articles, government policies and government websides Sampling Size: 50 Sampling Method : Ramdom sampling
  21. 21. “TO STUDY THE PERCEPTION OF PEOPLE REGARDING PAN CARD ” Tirpude Institute of Management Education Page 21 Analysis of data Results related to PAN Card Holders-Overall Description Percentage Percentage of people don’t have PAN card 60% Percentage of people have PAN card 40% The percentage of people holding the PAN is less than 50% of the population. There is need to make aware of the PAN being an so important document it is not cover even 50% of population. Results related to PAN Card Holders-Gender Gender Percentage of holders Female 66.66% Male 46.15% The percentage of PAN card holders in male is higher than that of female hence the awareness regarding PAN card in females in not high since its percentage is even less than 50%. The steps should be taken to improve this. 0 20 40 60 80 Male pan card holders Female pan card holders Percentage of pan card holders a/c to gender 60% 40% Perecentage of pan card holders people don’t have pan card People have pan card
  22. 22. “TO STUDY THE PERCEPTION OF PEOPLE REGARDING PAN CARD ” Tirpude Institute of Management Education Page 22 Results related to PAN Card Holders-Age group The PAN card holders according to the age group is in minimum in population below 18 year there lower awareness in this range as it is only 33.33% of pollution holding PAN below 18 years. Awareness in this group should be increased. Results related to PAN Card Holders-Occupation The Percentage of housewife and students holding the PAN is only 16.66 and 40% respectively which is very poor percentage, the awareness regarding PAN card in this category is very low efforts should be taken make them aware of it. 0.00% 10.00% 20.00% 30.00% 40.00% 50.00% 60.00% 70.00% 80.00% Below 18yrs 19-25 yrs 26-35 yrs 36-60 yrs Above 60 yrs Percentage of pan card holders 0% 20% 40% 60% 80% 100% 120% Business Government job Private job Housewife Student Percentage of pan card holders Age group Percentage of PAN card holders Below 18yrs 33.33% 19-25 yrs 71.42% 26-35 yrs 60% 36-60 yrs 75% Above 60 yrs 50% Occupation Percentage of PAN card holders Business 80% Government job 100% Private job 100% Housewife 16.66% Student 40%
  23. 23. “TO STUDY THE PERCEPTION OF PEOPLE REGARDING PAN CARD ” Tirpude Institute of Management Education Page 23 Results related to PAN Card Holders-Qualification The percentage of the PAN card holder is increasing with increase in the qualification. The percentage is quite low below SSC the measures should be taken to improve awareness at the secondary school level. Results related to PAN Card Holders-Income status The Percentage of the PAN card holders is decreasing with the Income status of the people the awareness at the lower income sector is very low measures should be taken to improve awareness in that sector. 0% 10% 20% 30% 40% 50% 60% 70% 80% Below SSC SSC HSSC UG PG Percentage of pan card holders Qualification Percentage of PAN card holders Below SSC 25% SSC 50% HSSC 50% UG 66.66% PG 70% Income status Percentage of PAN card holders Below 1lakh 28.57% 1-2lakhs 33.33% 2-3lakhs 71.42% 3-4lakhs 100% 4-5lakhs 100% 5-6lakhs 100% 0.00% 20.00% 40.00% 60.00% 80.00% 100.00% 120.00% Percentage of pan card holders
  24. 24. “TO STUDY THE PERCEPTION OF PEOPLE REGARDING PAN CARD ” Tirpude Institute of Management Education Page 24 Results for perception regarding the payment of tax if one has PAN card-overall There 36% of people who think it is mandatory to pay tax if we have PAN card this very wrong perception people have, we should change this perception Results for perception regarding the payment of tax if one has PAN card-Gender The ratio of the awareness among the female is lower than that of male as the percentage of reply yes is higher in female than that of male. Is it mandatory to pay tax if you hold PAN card? Percentage of people Yes 64% No 36% Gender Yes, it is mandatory Female 38% Male 30% 64% 36% Is it mandatory to pay tax Yes No 0% 10% 20% 30% 40% Female Male Yes, it is mandatory pay tax if you have pan card
  25. 25. “TO STUDY THE PERCEPTION OF PEOPLE REGARDING PAN CARD ” Tirpude Institute of Management Education Page 25 Results for perception regarding the payment of tax if one has PAN card-Age group The percentage of positive reply in age group of below 18 is highest that is 100% this shows that the perception of people is not correct. We need to focus on this group and improve awareness in this group. Results for perception regarding the payment of tax if one has PAN card- Occupation The percentage of yes reply is higher in student and housewife the perception of these groups is not appropriate. The step correct their perception should be taken. Age group Yes ,it is mandatory to pay tax if you have PAN card Below 18yrs 100% 19-25 yrs 28.75% 26-35 yrs 33.33% 36-60 yrs 28.57% Above 60 yrs 50% Occupation Yes ,it is mandatory to pay tax if you have PAN card Business 20% Government job 0% Private job 33.33% Housewife 40% Student 80% 0% 20% 40% 60% 80% 100% 120% Below 18yrs 19-25 yrs 26-35 yrs 36-60 yrs Above 60 yrs Yes ,it is mandatory to pay tax if you have pan card 0% 10% 20% 30% 40% 50% 60% 70% 80% 90% Business Government job Private job Housewife Student Yes ,it is mandatory to pay tax if you have pan card
  26. 26. “TO STUDY THE PERCEPTION OF PEOPLE REGARDING PAN CARD ” Tirpude Institute of Management Education Page 26 Results for perception regarding the payment of tax if one has PAN card- Qualification The perception in group below SSC is 100% there awareness towards PAN card is very less the efforts to increase awareness should be taken. Results for perception regarding the payment of tax if one has PAN card-Income status The awareness is more at the higher income group where as the awareness is very low with wrong perception of paying tax mandatory if we have PAN is high up 85.75%. the awareness should be increased in this group. Qualification Yes ,it is mandatory to pay tax if you have PAN card Below SSC 100% SSC 75% HSSC 50% UG 10% PG 0% Income status Yes ,it is mandatory to pay tax if you have PAN card Below 1lakh 85.75% 1-2lakhs 33.33% 2-3lakhs 28.57% 3-4lakhs 0% 4-5lakhs 0% 5-6lakhs 0% 0% 20% 40% 60% 80% 100% 120% Below SSC SSC HSSC UG PG Yes ,it is mandatory to pay tax if you have pan card 0.00% 20.00% 40.00% 60.00% 80.00% 100.00% Below 1lakh 1-2lakhs 2-3lakhs 3-4lakhs 4-5lakhs 5-6lakhs Yes ,it is mandatory to pay tax if you have pan card
  27. 27. “TO STUDY THE PERCEPTION OF PEOPLE REGARDING PAN CARD ” Tirpude Institute of Management Education Page 27 RESULTS OF WHETHER IT IS MANDATORY OR NOT TO FILE RETURNS IF YOU HAVE PAN CARD-Overall There 80% of people who think it is mandatory to file return if they have PAN card. This is very wrong perception, it is necessary only when your income exceeds the income tax details. RESULTS OF WHETHER IT IS MANDATORY OR NOT TO FILE RETURNS IF YOU HAVE PAN CARD-Gender The percentage in both men and women is very high regarding the filling the IT returns. The efforts should be taken to remove this perception Is it mandatory to pay tax if you hold PAN card? Percentage of people Yes 80% No 20% Gender Yes, it is mandatory to file return if you have PAN card Female 83.33% Male 77% 80% 20% Is it mandatory to pay tax if you hold pan card? Yes No 72.00% 74.00% 76.00% 78.00% 80.00% 82.00% 84.00% Female Male Yes, it is mandatory to file return if you have pan card 80% 20% Is it mandatory to pay tax if you hold pan card? Yes No
  28. 28. “TO STUDY THE PERCEPTION OF PEOPLE REGARDING PAN CARD ” Tirpude Institute of Management Education Page 28 RESULTS OF WHETHER IT IS MANDATORY OR NOT TO FILE RETURNS IF YOU HAVE PAN CARD-Overall The awareness regarding the is maximum in group 19-25 the perception of the remaining groups should be corrected and efforts should be taken for the same. RESULTS OF WHETHER IT IS MANDATORY OR NOT TO FILE RETURNS IF YOU HAVE PAN CARD-Occupation The awareness in the group of housewife and student is lowest as they perceive it is mandatory to file return. This perception of these groups should be changed. Age group Yes ,it is mandatory to file returns if you have PAN card Below 18yrs 85.71 19-25 yrs 33.33 26-35 yrs 50 36-60 yrs 83.33 Above 60 yrs 71.42 Occupation Yes ,it is mandatory to file returns if you have PAN card Business 50% Government job 50% Private job 60% Housewife 100% Student 100% 0 20 40 60 80 100 Below 18yrs 19-25 yrs 26-35 yrs 36-60 yrs Above 60 yrs Yes ,it is mandatory to file returns if you have pan card 0% 20% 40% 60% 80% 100% 120% Yes ,it is mandatory to file returns if you have pan card
  29. 29. “TO STUDY THE PERCEPTION OF PEOPLE REGARDING PAN CARD ” Tirpude Institute of Management Education Page 29 RESULTS OF WHETHER IT IS MANDATORY OR NOT TO FILE RETURNS IF YOU HAVE PAN CARD-Qualification The perception that it is mandatory to file return if you have PAN card is high almost I all the groups but in below SSC and SSC it is highest awareness in these groups should be increased. RESULTS OF WHETHER IT IS MANDATORY OR NOT TO FILE RETURNS IF YOU HAVE PAN CARD-Income status The people in the group of lower income perceive that it is mandatory to file returns if we have PAN card. Awareness regarding this should be improve in all the group as the percentage is quite high in all the groups. Qualification Yes ,it is mandatory to file returns if you have PAN card Below SSC 100% SSC 66.66% HSSC 75% UG 50% PG 25% Income status Yes ,it is mandatory to file returns if you have PAN card Below 1lakh 85.71% 1-2lakhs 50% 2-3lakhs 75% 3-4lakhs 33.33% 4-5lakhs 75% 5-6lakhs 33.33% 0% 20% 40% 60% 80% 100% 120% Below SSC SSC HSSC UG PG Yes ,it is mandatory to file returns if you have pan card 0.00% 10.00% 20.00% 30.00% 40.00% 50.00% 60.00% 70.00% 80.00% 90.00% Yes ,it is mandatory to file returns if you have pan card
  30. 30. “TO STUDY THE PERCEPTION OF PEOPLE REGARDING PAN CARD ” Tirpude Institute of Management Education Page 30 Results regarding the perception of people for the minimum age at which PAN card can be made The percentage of people who perceive that the minimum age for making PAN card is 18 are 84% and only 16% of the people know actual minimum age after which PAN card can be after 21/2 years. The awareness regarding the minimum age should made among the people it is very essential for them to know minimum age of PAN card is not 18 but 21/2 years. RESULT REGARDING THE USE OF PAN CARD-Overall The awareness regarding the uses of PAN card is highest for the Bank account and lowest regarding the KYC documents. People are not aware about the KYC documents People are also not aware that It is used to take the benefit of government schemes. 0% 20% 40% 60% 80% 100% 120% Percentage of people know that use Minimum age for making PAN card Percentage of people Only after 18 yrs 84% After 2 ½ yrs 16% PAN card is useful for Percentage of people know that use Bank account 100% Government scheme 44% Identity Proof 48% KYC Document 36% Filing the returns 80% OTHER PURPOSE 16% Minimum age for making PAN card Only after 18 yrs After 2 ½ yrs
  31. 31. “TO STUDY THE PERCEPTION OF PEOPLE REGARDING PAN CARD ” Tirpude Institute of Management Education Page 31 Findings and conclusion  There are only 60% of people who have PAN card  According to gender, the Percentage of PAN card holders and awareness regarding PAN is lower in females as compared to males.  According to age the Percentage of PAN card holders and awareness regarding PAN is lowest in age group of below 18  According to occupation the Percentage of PAN card holders and awareness regarding PAN is lowest in group of housewife and students  According to qualification the Percentage of PAN card holders and awareness regarding PAN is lowest in people having qualification Below SSC  According to Income status the Percentage of PAN card holders and awareness regarding PAN is lowest in the group of people having lower income than 2lakhs As per the above analysis it have seen that the awareness regarding the PAN card is very low. People perceive wrong thoughts regarding the PAN card and there is very low awareness regarding the proper use of the PAN card. There are few groups of people which have no awareness towards PAN card. More efforts should be taken to increase awareness in these groups.
  32. 32. “TO STUDY THE PERCEPTION OF PEOPLE REGARDING PAN CARD ” Tirpude Institute of Management Education Page 32 Recommendations / Suggestions  The awareness regarding PAN card is very low in few groups awareness in those group should be increased. The small awareness program should be organized to increase awareness  The perception of the people regarding PAN card should be changed since it creating false assumptions in the mind of people to remove these perception various ads and awareness camps should be organized.  The people should be made aware of the minimum age for the making of PAN card and in schools camps should be organized to make PAN cards for minors.  The awareness regarding the PAN should be increased at schooling level through Including the topic in syllabus.
  33. 33. “TO STUDY THE PERCEPTION OF PEOPLE REGARDING PAN CARD ” Tirpude Institute of Management Education Page 33 Bibliography  https://factly.in/bihar-uttar-pradesh-among-the-states-with-lowest-PAN-cards-per- 1000-population/  http://www.huffingtonpost.in/shivam-singh/only-0-091-earn-more-than-10-lakh- and-other-dreadful-direct/  https://www.bankbazaar.com/PAN-card/uses-of-PAN-card.html  http://www.mydailylifetips.com/is-it-mandatory-for-a-PAN-card-holder-to-file- income-tax-return/  http://zeenews.india.com/business/taxes/tax-news/new-PAN-rules-from-january- 1-2016-all-you-need-to-know_1840568.html  http://www.charteredclub.com/minor-PAN-card/  http://www.realityviews.in/2010/03/know-21-important-facts-about- permanent.html
  34. 34. “TO STUDY THE PERCEPTION OF PEOPLE REGARDING PAN CARD ” Tirpude Institute of Management Education Page 34 Annexure 1: Questionnaire SURVEY FORM (PAN CARD AWARENESS) NAME: GENDER: MALE / FEMALE RESIDENTIAL AREA: AGE: (below 18/ 19-25/ 26-35/ 36-60/Above 60) OCCUPATION:(Business/Private job/Government job/ Housewife/Student) Qualification: (Below SSC/ SSC / HSSC / UG / PG ) ANNUAL INCOME:(Below 1lakh / 1-2lakh / 2-3lakh / 3-4lakh / 4-5lakh /Above5lakh) 1. Do you have PAN card? Yes / No 2. According to you what is the minimum age one can make PAN card? ________ 3. Is it mandatory to pay tax if you have PAN card? YES / NO 4. Is it necessary to file return if you have PAN card? YES / NO 5. PAN card is useful for a. Bank account b. Government scheme c. Identity Proof d. KYC Document e. Filing the returns f. OTHERS
  35. 35. “TO STUDY THE PERCEPTION OF PEOPLE REGARDING PAN CARD ” Tirpude Institute of Management Education Page 35 Annexure 2: Personal learning  Learn to interact with the people without fear and to handle the crisis and rejections  Learn Time management How to be on time and manage meet the deadlines before time.  Learn to convince the people  Learn about PAN card importance and uses  Learn about various government policies  Learn to be punctual  Learn to work smartly  Learn grooming according to professional environment  Learned to manage professional and personnel time  Learned to work under pressure  Learned to full fill dead lines  Learn to cope up with low performance
  36. 36. “TO STUDY THE PERCEPTION OF PEOPLE REGARDING PAN CARD ” Tirpude Institute of Management Education Page 36 Annexure 3: Professional/ team learning  Learned to work in a team and perform accordingly.  Learn official etiquettes  Learned cold calling  Learn telephone etiquettes  Learn cold calling  Learned door-door survey  Learn to Research methodology and sampling methods  Learn to interact with customers  Learn telephonic communication  Learned Data analysis  Learned to work on excel  Learned to apply various functions of excel  Learned Forward communication i.e. to talk to seniors

×