What information can we get from PAN card?

Role of PAN in Linking Transactions

The Permanent Account Number (PAN) is a crucial identifier issued by the Income Tax Department of India. It serves several important functions in the financial and tax-related processes.

Key Functions of PAN

• Identification: PAN helps the Income Tax Department identify and track all transactions associated with the PAN holder.
• Linking Transactions: It links various financial transactions such as tax payments, returns of income, TDS/TCS credits, and other financial activities to the PAN holder.

Why PAN is Important

• Consolidation: By linking all transactions with a single PAN, the Income Tax Department can consolidate and verify the financial activities of the PAN holder.
• Compliance: It ensures compliance with tax laws and helps in accurate assessment of tax liabilities and credits.

For more information about PAN and its role in financial transactions, please consult the Income Tax Department or visit the nearest IT PAN Service Center.