A PAN card, which stands for Permanent Account Number card, is a unique, 10-character alphanumeric identification number issued by the Income Tax Department of India to individuals and entities. It serves as a vital document for financial and tax-related transactions in India. Here are some key points about the PAN card:

1. Unique Identification: The PAN card provides a unique identification number to each person or entity to track their financial transactions and ensure tax compliance.

2. Alphanumeric Code: The PAN number consists of a combination of ten characters, including both letters and numbers (e.g., ABCDE1234F). The format helps in generating a large number of unique identifiers.

3. Mandatory for Financial Transactions: PAN is essential for various financial transactions, including opening a bank account, filing income tax returns, purchasing or selling assets like property or vehicles, investing in securities, and receiving a salary if applicable.

4. Taxpayer Identification: PAN is primarily used for income tax purposes. It helps the government monitor and track an individual’s or entity’s taxable income, deductions, and tax payments.

5. Validity: A PAN card does not have an expiry date. It remains valid for the lifetime of the cardholder. However, if there is a change in information like name or address, the cardholder should update it with the Income Tax Department.