FAQs

The Permanent Account Number (PAN) is a ten-digit unique identity number issued by the Income Tax Department.

The PAN is mandatory for all individuals to pay taxes and for other financial transactions like buying high-end products, availing of financial credit, opening a bank account, taking loans, and trading in securities among others. It is also accepted as a valid photo identity card.

Financial Year is the actual year for which you're filing your return and the Assessment Year will always be the next year of any financial year. For example, If you filed areturn for F.Y. 2020-21, then the assessment year will be 2021-22.

The full form of PAN is Permanent Account Number, which is a 10-digit alpha numeric identifier which is issued to each tax payer by the Income Tax Department. The full form of TAN is Tax Deduction Number which is a 10-digit alphanumeric number allotted to those who are liable to deduct TDS by the Income Tax Department.