PAN

PAN (Permanent Account Number) is a 10-character alphanumeric identifier (e.g., ABCTY1234D) issued by the Income Tax Department. It is required for filing ITR, opening a bank account, investing in mutual funds, buying property above ₹10 lakh, and receiving taxable payments above ₹50,000. PAN is linked to your tax records and appears on Form 16, Form 26AS, and AIS. Surrendering a duplicate PAN or using someone else’s PAN is a penalty-worthy offence.