Markets have corrected, it's the best time to invest in mutual funds and save 46,800 in taxes a year

Know your Permanent Account Number (PAN)

Updated on

In brief, PAN is a unique ten-digit identification number allotted to every person who has applied for it, and it was introduced to track financial transactions taxable in nature. PAN card serves as identity proof and also assists in monitoring tax evasion.

Individuals and institutions such as banks, companies and other business entities can verify the PAN details of an individual with the income tax department. Not only does this help in the verification of the PAN details but also in finding out if the PAN card is a forged one.

The PAN verification service available on the IT department’s official e-filing portal can be utilised by individuals to verify the PAN card’s authenticity. It would help if you remembered your PAN to use this facility. Here is how you can use the facility.

Steps to Know your PAN

Step 1. Visit here

Verify your PAN

Step 2. Enter your PAN

Step 3. Enter your full name as per PAN application

Step 4. Enter your DOB

Step 5. Choose the status, i.e., whether individual, Hindu undivided family, the association of persons, body of individuals, company, government, artificial juridical person, local authority, and firm or trust

Step 6.Enter captcha code

The below screen is displayed on success:

PAN is active

In case the PAN quoted is wrong, the below screen would appear:

No record of the given PAN

Frequently Asked Questions

  • Is PAN alphanumeric?

    Yes, PAN is 10-digit alphanumeric.

  • Can I open a bank account without PAN?

    Yes, you are allowed to open a bank account by filling Form 60 if you don’t have PAN.

  • Can I invest in mutual funds without PAN?

    As per the government norms, you cannot invest in mutual funds without possessing PAN.

  • How to verify PAN?

    Log on here and enter all the requested details to verify PAN.

  • Can I have multiple PANs?

    It is not possible for an individual to have multiple PANs.