Permanent Account Number (PAN) is a unique identification number for corporate, families and individuals particularly for those who pay the Income Tax. It is an alphanumeric identifier with 10 characters issued to every entity recognizable by the Income Tax Act. The Indian Income Tax Department issues it under the observation of the Central Board of Direct Taxes. In India, a PAN card is a significant identity proof. Since a PAN card can also be issued to a foreign national like an investor, it does not stand as a proof of Indian citizenship. For most financial transactions such as opening a bank account, sale or purchase of assets, and receiving salary or professional fees, holding a PAN is very mandatory. It is unique and valid for the holder’s lifetime. PAN code remains unaffected by the change of the holder’s address.