A transmission gasket lies between the transmission pan and transmission housing. It prevents leakages from the transmission pan. The key reason for these leakages is faulty installation. When the pan is not mounted correctly or fitted with incorrect/loosen bolts, it can make the fluid leak from it.
If you keep driving with low fluid levels due to leakages, it can permanently damage the car's transmission system. It will eventually lead to expensive repairs or replacements.
A few signs of low transmission fluid are: