PAN Card FAQs

(1)What Is PAN?
Permanent Account Number (PAN) is a ten-digit alphanumeric number, issued in the form of a laminated card, by the Income Tax Department.

A typical PAN is AABPS1205E.

(2) Why Is It Necessary To Have PAN?
It is mandatory to quote PAN on return of income, all correspondence with any income tax authority.

It is also compulsory to quote PAN in all documents pertaining to financial transactions

(3) Is it compulsory to quote PAN on return of income?
Yes, it is compulsory to quote PAN on return of income

(4) Who must have a PAN?
1 All existing assesses or taxpayers or persons who are required to furnish a return of income, even on behalf of others, must obtain PAN

2 Any person, who intends to enter into financial transaction where quoting PAN is mandatory, must also obtain PAN.

(5) Can a person obtain or use more than one PAN?
Obtaining or possessing more than one PAN is against the law