Permanent Account Number (PAN), the ten-digit number issued in the form of a laminated card by the Income Tax Department in India, counts as one of the most important document as the unique identification number allotted to each taxpayer of the country
The identification system of PAN is a computer-based system that assigns to every Indian paying Tax entity.
What is the idea behind having a PAN Card?
PAN Card is the same as the Social Security member or SSN used in the United States. The aim of having SSN is to track individuals for social security purposes. It becomes a primary identification number for taxation processes. PAN card issued under the Indian Income Tax Act, 1961 under the supervision of the Central Board for Direct Taxes (CBDT).