PAN Number is a 10-digit alphanumeric identity number,issued under Section 139A of Income-tax Act,1961 by income tax department.It identify all the transaction of a tax assesses,like-Tax payment,Tax returns,and specified transaction where PAN has to be quoted.It is essential for every individual to have a PAN, if the income earned during the year is taxable,which means Rs2.5lakh or more below the age of 60 years,or more than Rs 3 lakh for senior citizens above 60 years of age,and Rs 5 lakh or more for very citizens above 80 years of age.
Once obtained,PAN is valid throughout India and for the lifetime of assesses. Pan Card Apply Online is done through Filingbazaar.
