Thursday, November 8, 2018

What is a PAN Card?

PAN or Permanent Account Number is a unique 10-digit number that is assigned to individual taxpayers. The first card was issued in the year 1964.


The 10-digit number consists of an alphanumeric combination.

It is issued by the Income Tax Department under Central Board of Direct Taxes. The card displays the name, DOB, as well as the photograph of the applicant. This makes it one of the valid identity documents.

It is required for monitoring of all financial transactions by the Income Tax department and tracking all those tax payers who evade paying the required taxes.

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