PANÂ is a 10 – Digit Alphanumeric number, issued by Income-tax Department of India. Permanent Account Number enables the department of Income-tax to link all the transaction of the person who holds the PAN card with the Department. The Transaction includes,
- Tax Payment
- TDS/TCS credits
- Returns of income/wealth/gift/FBT
- Tax Demand/Tax Arrears., etc.,
It is compulsory to quote PAN of Income-tax Return Filings.