What is PAN or Permanent Account Number or PAN Card?

PAN or Permanent Account Number is a unique 10 digit number assign to an individual or a company by of Income Tax Department of India. PAN number doesn't change when you move from one place to another. PAN number comes on a PAN Card which looks like a credit card along with the photo. This is how a PAN Card looks: Few important facts about PAN Card: PAN Card is mandatory to open Demat account. If you already have a demat account and you do not have a PAN Card, you cannot operate your demat account. If the demat account is a joint account, all participant of this account should have a valid PAN Card. PAN Card is also mandatory for buying or selling of mutual funds. One person can not have more then one PAN number, This is a law.