Permanent Account Number €“ Pan

The Permanent Account Number (PAN) is a unique 9-digit number assigned to each Indian citizen by the Income Tax Authorities. It is used to track and identify taxpayers and is required to be quoted on various documents, including tax returns, bank statements, and invoices.

Format:

The PAN is a 9-digit number in the format XXXXXXXXXX, where:

• XXX is the first block of three digits, which is unique to each state/Union Territory.
• XXXX is the second block of four digits, which is assigned to the specific branch of the bank where the account is opened.
• XXX is the last block of three digits, which is a serial number issued to the specific account.

Purpose:

• Tax identification: The PAN is used to identify taxpayers and determine their tax liability.
• Financial transactions: The PAN is used for various financial transactions, such as opening bank accounts, applying for loans, and filing taxes.
• Other official purposes: The PAN is also used for other official purposes, such as obtaining passports and driving licenses.

Additional Information:

• The PAN is a permanent number and should not be changed unless specifically required by the authorities.
• You can find your PAN on your income tax return, bank statements, or other official documents.
• If you do not have a PAN, you can apply for one at any Income Tax Office (ITO) in India.

Please note that this is just a summary of the Permanent Account Number (PAN) in India. There may be additional information or regulations related to PAN that are not covered in this text.