PAN Card is a card issued by Income tax department of India engraved with ten digit alpha Numeric Number along with your photo and signature (just started) printed on it and  is compulasory for every indian citizen or Non resident of India who want to make any financial transaction or investment in India.


Why to apply for Pan Card?
1. It can be used as a Identity Proof.

2. Now it is mandatory to have a pan card to
open a bank account
Applying for Loan
For opening a demat account
For buying or selling mutual fund ,stocks
To deposit or Cash payment of more than Rs. 50000
For getting the credit card
For buying or selling property

Note:-
1. No individual can have more than one Permanent Account Number.If you have lost the Pan Card you can get a newly printed PAN Card but with same Permanent Account Number as of previous.

2. Pan is unique ,Permanent that means no two persons have same Permanent Account Number.

3. For Minor(age less than 18) to open a bank account ,Parent or guardian Pan card can be used.

4.For buying or selling property in india both seller and buyer should have Pan card.

5. If by chance you have more than one pan card with different Permanent Account Number you can be punished by law with a panelty of Rs. 10000.