The “Permanent Account Number” or the PAN number is series of alpha numeric number that is issued by the income tax department of India to the taxpayers. The number that is allotted to a person is unique and cannot be transferred. Though initially, the purpose of issuing PAN numbers was to use it as an aid to collect taxpayer’s money and process the same, over the time, it has come to serve as a proof of identity of the card holder. Apart from this, a PAN card is needed for multiple purpose. These are enumerated below:
Why do You Need a PAN Card?