What is PAN or PAN Card ?
What is PAN ?
- PAN stands for Permanent Account Number. It is a 10-character alphanumeric number uniquely allotted by Income Tax department to the PAN Applicant. It helps in identification of the PAN Cardholder or income tax payer. PAN Card is Necessary in case of receiving a taxable salary, taxable professional fees, opening a bank account with high amount, purchase or sale of assets above the specified limit and so on. PAN cards serve as a Government issued identity .