What do PAN (Permanent Account Number) and TAN (Tax Deduction and Collection Account Number) represents?

February 05, 2024 05:50

PAN (Permanent Account Number) is a unique 10-digit alphanumeric identifier issued by the Income Tax Department in India to a person for tracking financial transactions, while TAN (Tax Deduction and Collection Account Number) is an 10-digit alphanumeric code assigned to entities responsible for deducting or collecting taxes at the source.

PAN is primarily for a person's identification, and TAN is for entities involved in tax deduction and collection processes.

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