what is pan card number in india

In India, the Permanent Account Number (PAN) is a ten-character, unique alphanumeric identifier issued by the Income Tax Department. It is essential for all major financial transactions, including filing income tax returns, opening a bank account, and investing. The PAN number follows a distinct format: the first five characters are letters, followed by four numerals, and the tenth character is a final letter. The fourth character is particularly significant as it denotes the type of cardholder, such as 'P' for an individual or 'C' for a company.