Permanent Account Number (PAN) is a unique 10-digit alpha-numeric identity, issued to all the entities identifiable under the Income Tax Act, 1961. PAN Card is issued by Indian Income Tax Department under the supervision of Central Board of Direct Taxes.
The primary objective of PAN is to track financial transactions to prevent tax evasion.
Why you should get a PAN Card?
- For the payment of direct taxes
- To file income tax returns
- To enter into specific transactions
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