KBC 13 Offline Quiz (September 14, 2021): What is the full form of PAN?
a. Postal Account Number
b. Public Account Number
c. Permanent Account Number
d. Personal Account Number
Answer: c. Permanent Account Number
PAN or permanent account number is a ten-character alphanumeric identifier, issued in the form of a card by the Indian Income Tax Department. Any person who applies for it is alloted a unique number. It can also be obtained in the form of a PDF file.
It is a unique identifier issued to all judicial entities identifiable under the Indian Income Tax Act, 1961. Section 139A of the Income Tax Act has made it mandatory for people to have PAN to operate a business. Important to file income tax, it is issued by the Indian Income Tax Department under the supervision of the Central Board for Direct Taxes (CBDT). The PAN also be used as an important proof of identification.
The department can issue PAN to foreign nationals (such as investors) subject to a valid visa.
The PAN (or PAN number) is a ten-character long alpha-numeric unique identifier.
The first five characters in PAN are letters (in uppercase by default), followed by four numerals, and the last (tenth) character is a letter.
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