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Knowledge

What is a PAN card number?


PAN is an acronym for Permanent Account Number. This number was started by the Income Tax Department of India in order to keep track of everyone's taxes. It has now become necessary that you have one before you can make any big Financial transactions. It started becoming a rule in 2007 and is now mandatory almost everywhere in India. Some people might relate this number to the SSN of the USA. Even those who are not living in India, that would like to anything dealing with finances in India, must have a PAN. The Income Tax Department has PAN card processing offices all over India. These are usually the UTITSL. When you are allotted a PAN, It will come to you in the form of a card. The card will have your photograph, your signature, your name, your father's name, and your PAN. The card is the size of any other ID card and fits in your wallet. You can use this ID as an ID proof for many other things as well.
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