Nowadays most of us have a PAN card. PAN card is a very important document. It contains many of our important information. PAN card is a special need of people to perform various financial operations. Not only this, PAN card is also used as a document in many places.
There is a special need for this even while filing income tax return. According to the rules, a person can hold only one PAN card. If you have more than one PAN card, you may be charged a penalty. Do you know the difference between PAN, TAN and TIN card numbers? If not then today we are going to tell you about this. Let us know about it in detail –
pan
PAN means Permanent Account Number. It is a ten digit alphanumeric number. With the help of PAN number, the government can easily track the financial transactions of the PAN card holder.
tan
TAN stands for Tax Deduction and Collection Account Number. TAN is a ten digit alphanumeric number. TAN number is issued by the Income Tax Department. It is used to track TCS and TDS.
tin
TIN number means Tax Identification Number. It is an 11 digit alphanumeric number. The first two digits of the TIN number indicate the state. This number is issued by the Home Ministry. It is used in interstate sales transactions. This is a special type of identification number.