PAN Card (Permanent Account Number)

PAN is a unique 10-character alphanumeric identifier issued by the Income Tax Department of India to individuals, companies, and other entities. It is primarily used for tracking financial transactions and tax compliance.

Key Features:

Format 10 characters: ABCDE1234F First 5 letters → Alphabetic code Next 4 digits → Numeric series Last letter → Alphabetic check character Provided as a laminated plastic card known as a PAN card.

Purpose Serves as a universal identification for tax purposes.

Helps track income, tax payments, and financial transactions.

Prevents tax evasion and duplicate accounts.

Where PAN is Mandatory Filing income tax returns Opening bank accounts Buying or selling property Investing in mutual funds, stocks, or bonds High-value financial transactions (cash deposits, foreign remittances, etc.) Validity PAN is lifetime-based and remains the same even if the individual changes residence or name (with proper documentation).

Example: PAN: ABCDE1234F Used while filing income tax returns to link all tax payments and financial records to the individual or entity.