A permanent Account Number, or PAN, is a way of identifying different taxpayers in the country. Pan Card is a 10-digit unique identification alphanumeric number (containing both alphabets and numbers) given to Indians, primarily those who pay taxes.

The PAN identification system is a computer-based system that assigns each Indian tax-paying entity a unique identification number. All tax-related information for a person is recorded against a single PAN number, which serves as the primary key for information storage. Because this is shared throughout the country, no two people on tax-paying entities can have the same PAN. A PAN Card is good for a lifetime.

The Tax Deduction and Collection Account Number (TAN) is required for individuals who deduct or collect tax at the source. There is a Rs.10,000 fine for failing to quote the TAN. It is a ten-digit alphanumeric code. This figure must be met by those responsible for deducting or collecting tax at the source. Your TAN must be quoted in all TDS or TCS returns, payments, certificates, Annual Information Returns, and other documents.

TDS return filing is mandatory for all assessees who fall within the Income Tax Department's tax slab. It is mandatory to e-file TDS returns, which can be done through the official Income Tax e-filing portal. Although filing the return online is a complicated process, it is required that the deductors submit their TDS returns on time. TDS returns can be filed electronically. Once the TDS returns are submitted online, the information will appear on the payee's Form 26AS.