What is the full form of PAN?

Key Points

• The full form of PAN is Permanent Account Number.
• PAN is a unique, alphanumeric identifier issued to all judicial entities identifiable under the Indian Income Tax Act, 1961.
• The PAN is mandatory for financial transactions such as receiving taxable salary or professional fees, sale or purchase of assets above specified limits, buy mutual funds, and more.
• PAN helps in tracking the financial transactions of individuals and prevents tax evasion.

Additional Information

• The PAN card is issued by the Indian Income Tax Department under the supervision of the Central Board of Direct Taxes (CBDT).
• It also serves as an important proof of identification.
• The PAN structure is as follows: AAAPL1234C. The first five characters are letters, the next four are numerals, and the last character is a letter.
• PAN is valid for a lifetime and does not change with change of address.