what is pan card

A Permanent Account Number (PAN) is a unique ten-digit alphanumeric identifier issued by the Income Tax Department of India. The physical document is known as the PAN Card. It is essential for tracking all financial and tax-related transactions of an individual or entity across the country, which helps prevent tax evasion. Having a PAN is mandatory for activities like filing income tax returns, opening bank accounts, and making high-value investments.