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PAN stands for Permanent Account Number; a PAN Card is a unique 10-character alphanumeric identifier that is issued by the Income Tax Department in India. A PAN Card serves as a crucial document for individuals and entities which carry out financial transactions. It serves as a universal identifier for taxable entities.
Individuals: Any individual, including salaried employees, self-employed professionals, and students.
Businesses: Companies, partnerships and other business entities.