PAN (Permanent Account Number) is an identification number that is issued to all Indian taxpayers. PAN is a computerized system that records all tax-related information for a person or corporation against a single PAN number. This serves as the main key for information storage and is shared across the country. As a result, no two tax-paying entities may have the same PAN.
The PAN Card is a vital document. This card is used for critical financial work. We have a distinctive requirement for this card for everything from stock trading to opening a bank account.
PAN cards are now utilized for a variety of vital functions. PAN cards are also utilized for financial transactions. People may face issues doing several vital financial tasks if they do not possess a PAN card.
At the same time, people often ask whether there is validity of PAN cards? If yes, then for how long is the PAN card valid? We all use PAN cards, even though very few of us know about its validity.
What is the Validity of a PAN Card?
PAN card is issued by NSDL. If any of your important information is entered wrong on this card, you can also update it. The validity of a PAN card lasts for the entire lifetime until the cardholder dies. Only after that, the PAN card becomes invalid. Due to this, the validity of the PAN card remains throughout the life of the person.
People barely acknowledge the fact that all the important details of the person are recorded in the 10 alphanumeric numbers entered into the PAN card.
An individual can hold only one PAN card. Holding more than one PAN card can lead to a fine. Apart from this, the person's signature and his photo are also mentioned on the PAN card.
