What is a PAN Card?
Permanent Account Number (PAN) is a unique identification number issued by the Government of India to Indian Tax Payers. It is issued by the IT department.
A Pan Card is a Alphanumeric code that groups an individuals IT Transaction, tax payments, TDS credit, and other transactions.
PAN is very important for the financial health of a country. Since, it is linked to an individual, it can be used a proof for financial transactions. By linking financial transactions to PAN, the government is able to prevent tax evasion. PAN plays an important role in preventing money laundering.
In order to facililate PAN processing, government has two prominent portals – NSDL and UTIITSL. Applicants can apply for PAN card at any of these centers and get them approved within a week.
Once the PAN no is allotted, the applicants are notified through Email and SMS. With their PAN number, they can download the e-pan version from these portals until the hard copy reaches the address.
Here are the steps in downloading the e-PAN card