In India, the permanent account number (PAN) is a ten character alphanumeric code combination allotted by the Indian Income Tax Authorities to individuals and registered entities. The PAN's key function is as an all-in-one form of identification, but it also acts as a factor for all financial transactions; thereby maintaining a track-record of an individual's financial transactions. Through this, PANs help in avoiding tax evasion and also support compliance of applicable laws.
PAN Card for business or company can be obtained by submission of PAN application form - Form49A (for Indian citizens, Indian Companies, Entities incorporated in India and unincorporated entities formed in India) and Form 49AA (for individuals not being a citizen of India, entities incorporated outside India and unincorporated entities formed outside India).
PAN stands for Permanent account number and is 10 digit alphanumeric number which is allotted by the Income Tax department to the person who applies for the same. PAN can be applied online.Further, requests for changes or correction in PAN data may also be made online.