Government of India, Income Tax Department has issued 10 digits unique alphanumeric number in which each number has significance according to the type of individual to whom the PAN is allotted. In concern with the technical aspect, the information of an individual is stored electronically.
The PAN card concept was incepted in the year 1972 and holds lifelong validity. It’s one of the main Government IDs which is issued to Individuals, companies, non-residents, or individuals who pay taxes in India. As PAN is issued to a varied number of individuals, the Government has categorized it, that PAN for HUF, Company, Partnership Firms, Trusts, Society, & Foreigners. Therefore the application documents are also different while applying. The price charged for a PAN card application is Rs. 110 & Rs. ~1020 if the card has to be dispatched outside India.