The abbreviation PAN stands for Permanent Account Number
A PAN card is a physical card that contains the PAN and it is valid for a lifetime. This is because a change in address or age doesn’t affect it.
What is PAN?
PAN is assigned mostly to Indian income taxpayers by the Indian Income-tax authorities. It helps the department track any tax-related information and transactions made by the citizens. Hence, it acts as a database for all individual transactions such as TDS, TCS, ROI, etc.
PAN Stands for
The short form PAN stands for Permanent Account Number which is a unique 10-digit alphanumeric code allotted to all Indian taxpayers by the Income Tax Department. It is an identification code that helps record all tax-related transactions of the individual.
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