I want to know about the pancard?

Pancard is a card given by Income Tax Department which carries a unque number, PAN (Permanaent Account Number), along with one's photo. the PAN is given by the Department to each individual or company for identification. PAN helps the Department to keep a watch on the finacial transactions of the individual or company. mentioning of PAN is requiored in most of the financial transactions in India. For details visit www.incometaxindia.gov.in

Permanent Account Number (PAN) is a national identification number, issued to all taxpayers of India whose income is taxable. This number is issued by the Income Tax Office.

This number is required for many activities such as opening an account, getting a phone line, receiving salary or professional fees. The primary purpose of PAN is to prevent tax evasion by keeping a track of monetary transactions. The PAN is unique, national, and permanent. It is unaffected by a change of address, even between states.

This number can be considered to be similar to Social security number issued in United States to citizens and other legal residents.

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