Incometax Articles

PAN (Permanent Account Number)

Shirjeel Yunus

Updated on 28-Nov-2023 255 Views

What is PAN? PAN can be expanded as Permanent Account Number. This is a 10-digit unique ID which consists of letters and numbers. The income tax department issues PAN this number to the people who have to pay taxes. Information related to tax-related transactions is recorded through this number. The types of transactions that are recorded in a database include − Tax collected at source (TCS Tax deducted at source (TDS) credits Income tax payments Return on investments Return on gifts Return on wealth PAN Card A PAN Card is issued to each individual by the tax department. ...