What is PAN card?

Question

A PAN card is a unique identification document for tax purposes in India. Learn its uses, benefits, eligibility, application process, and importance.

Khyati Anand · Accepted Answer

Permanent account number, which is widely known as PAN Card is an identifier which is issued by the Income Tax Department. Any person can apply for a pan card but must not be a minor. The Income Tax Department issues the designated person or whomever they allot the number without any application. Income tax department issues this PAN Card under the supervision of the Central Board for Direct Taxes.

These PAN Cards are not acceptable as a nationality proof because these are also given to the foreign investors who have valid visas. PAN Card is only important when it comes to payment of income tax.

These PAN Cards are not acceptable as a nationality proof because these are also given to the fo...

Maninder Kaur · Answer

PAN stands for permanent account number. A pan card number is a ten numbers which is digits and alphabets that is allocated by income tax department to all the taxpayer. The government has enabled tracking of financial transactions trough PAN card. it is vry useful and important identity proof of every citizen.