Indian Income Tax Department has introduced Permanent Account Number (PAN) for Non - Resident Indians (NRI), Person of Indian Origin (PIO), Overseas Citizen of India (OCI) in order to facilitate easy retrieval of information and matching information relating to an assessee's investment in business, shares, mutual funds, properties, payment of taxes, raising of loans, assessment, tax demand, tax arrears etc.
The Permanent Account Number (PAN) issued to Non - Resident Indians (NRI), Person of Indian Origin (PIO), Overseas Citizen of India (OCI)is unique, national, and permanent.
As a universal identification key the PAN helps to monitor all financial transactions of high net worth individuals and thereby indirectly prevent tax evasion.
PAN Card is issued by the Indian Income Tax Department under the supervision of the Central Board for Direct Taxes (CBDT) and it serves as an important ID proof.
From 1 January 2005 it has been made mandatory to quote the Permanent Account Number (PAN) on challans for any payments due to Income Tax Department. It is also compulsory to quote PAN in all documents pertaining to most financial transactions.
Are you an minor, major, senior citizen or any individual, who do not have a PAN card? Do you want a PAN for the first time?
Do you already have a PAN? Does your name or any other details needs to be changed in your existing PAN card?
Have you lost or damaged your PAN card? You can apply to Reprint a PAN card with or without changes to your existing PAN details.