PAN & TAN

PAN is a unique identification number given to all Indian taxpayers. A PAN number is a single number that is part of an electronic system that contains all of a company’s or individual’s tax-related information. This serves as a primary key for storing data and can be shared throughout the country. There can’t be two entities with the same PAN number.

The Income Tax Department of the Indian government distributes a 10-digit Alphanumeric Number to anyone who is responsible for TCS (Tax Collection at Source) or TDS (Tax Deduction at Source) (Deducting Tax at Source). The number given is truly one-of-a-kind, and it is referred to as TAN. The TAN number is required per Section 203A of the Income Tax Act of 1961.