A permanent Account Number or PAN is a means of identifying various taxpayers in the country. PAN is a 10-digit unique identification alphanumeric number (containing both alphabets and numbers) assigned to Indians, mostly to those who pay tax.
The PAN system of identification is a computer-based system that assigns a unique identification number to every Indian tax-paying entity. Through this method, all tax-related information for a person is recorded against a single PAN number which acts as the primary key for the storage of information. This is shared across the country and hence no two people on tax paying entities can have the same PAN.
When PAN is allotted to an entity, PAN Card is given by the Income Tax Department. While PAN is a number, PAN Card is a physical card that has your PAN as well as the name, date of birth (DoB), father’s or spouse’s name, and photographs. Copies of this card can be submitted as proof of identity or DoB.
Your PAN Card is valid for a lifetime because it is unaffected by any change in address.
|The deadline for Linking PAN Card and Aadhaar Card is 31 March 2023The last date the link the PAN and Aadhaar have been extended to 31 March 2023. However, individuals who do not link their Aadhaar and PAN by 31 March 2022 will have to pay a fine. The fine will be Rs.500 if the PAN and Aadhaar are linked by 30 June 2022. The fine will be Rs.1,000 if the linking is done between 1 July 2022 and 31 March 2023.|