Overview
PAN (Permanent Account Number) is a 10-digit unique identifier issued by the Income Tax Department of India to individuals, businesses, firms, and entities for tax purposes.
PAN is mandatory for all taxable entities and is required for various financial transactions, including:
→ Filing income tax returns
→ Opening a bank account
→ Transferring shares or securities
→ Receiving taxable salary or professional fees
→ Making investments in mutual funds or bonds
→ Receiving gifts or gifts above a certain limit
