Permanent Account Number (PAN)

A 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. PAN serves as a primary identification for taxpayers and is mandatory for a wide range of financial transactions, including filing income tax returns, TDS (Tax Deducted at Source) transactions, opening bank accounts, buying or selling immovable property, and investing in securities. PAN helps the government track and link all tax-related and high-value financial transactions of a taxpayer.

Example: An individual may have a PAN like AAAPL1234C, which uniquely identifies them for all tax and financial purposes.