In India, What is a PAN number?

What is it? When do you have to have one? Is it only available to Indian citizens? I am of half indian descent, British citizen , do I need one for any reason? Thanks.

PAN number stands for unique number alloted by the Income tax department which identifies an assessee. It stands for Permanent Account Number.
You have to apply for a PAN number to conduct any monetary transaction involving banking, mutual fund investing, stock investing, purchase of house etc.
If you earn a loczl income in India, you have to pay tax on the smae and will hence need a PAN number, not otherwise.

Permanent Account Number is a number by which the Assessing Officer can
identify any person. Presently the Income Tax Department is allotting PAN
under the New Series to all assessees which consists of ten alphanumeric
character and is issued in the form of a laminated card. The PAN is ultimately
meant to supplant the General Index Register Number which is currently in use.
The General Index Register Number is a number given an Assessing Officer to
the assessees in the General Index Register maintained by him which also
contains the designation and the particulars of the Assessing Officer. As per
section 139A of the Act obtaining PAN is a must for the following persons:-

1. Any person whose total income or the total income of any other person in
respect of which he is assessable under the Act exceeds the maximum amount
which is not chargeable to tax.
2. Any person who is carry on any business or profession whose total sales,
turnover or gross receipts are or is likely to exceed Rs. 5 lacs in any previous
year.
3.Any person who is required to furnish a return of income under section
139(4) of the Act.

The requirement for applying for allotment of PAN under the New Series has
now been extended to the whole of India.
PAN is required to be quoted in all the transactions mentioned below:-
In all returns and in all correspondence with the department.
In all challans for payment of any tax or sum due to the department.
In certain notified transaction. (see the sub module on notified transactions
where PAN has to be quoted)
How to obtain PAN ?
Form no.49A has been prescribed for making an application for allotment of
the PAN. The existing assessees who are already filing their returns of income
and who have not been allotted the PAN can attach form No.49A(duly filled in)
along with the return of income while filing their return of income with their
respective Assessing Officers. However, new assessees whose income is likely
to exceed Rs.50,000/- (the maximum amount not chargeable to tax for A.Y.
1998-99) can fill up the form and submit it to the "new assessee" circle or ward
which has jurisdiction over them. In the cases of persons carrying on business
or profession, if the turnover is likely to exceed Rs.5,00,000/-(Rs. five
hundred thousand) in any previous year, the form No.49A should be filled up
and presented to the Range/Circle/Ward where the new returns are required
to be filed.

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Pan number means - parmanent account number - in INDIA.

PAN stands for Personal Account Number. It is issued by the Income Tax Department. If you are earning any income in India, you may need this number.

It is like SSN in the US- trying to give a unique number to its citizens- a unique tax identifier number given by IRS.
But the use is still not widespread. At the same time - for most financial transactions (opening a brokerage account/ taking a loan/buying property)- you will be asked to furnish your PAN account. It is easy to get. But you need to be a citizen (Indian Passport).

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Yes

Photo PAN card is required for any sort of investment STock / Mutual Funds in India. For filing income tax return PAN number is used.
If you are earning or plans to do so as being Indian citizen, you will need PAN card.
You can get it done by proving your Indian Nationality & by visiting any chartered accountant in India.

permanent account number. It is uded as an identity for all financial transaction in bank if it exceeds Rs500,000/= and very usefuk for voting etc. It is an identiy for all tranactions

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