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Why Do I Need a PAN Card?


The Permanent Account Number, or PAN, was introduced over 10 years ago by the Indian Government’s Income Tax Department. It’s a way of giving each person in India a unique number which can then be quoted whenever the person pays taxes, takes out a loan or makes a large purchase. Having a unique number avoids confusion and stops your tax affairs being muddled with someone else who has a similar name or same date of birth.

Your PAN is unique to you, and doesn’t change even if you move from one Indian State to another. Everyone just gets one PAN number.

PAN Cards are issued by the Indian Income Tax Department and is similar to National Identification number schemes run by other countries. PAN Cards also double as accepted national identity documents.

Since the start of 2005, it has been a legal requirement to quote PAN numbers on any payments made to the Indian tax authorities. PAN is also required for larger financial transactions.