PAN stands for Permanent Account Number and is a 10-digit alphanumeric code used for unique identification. The Income Tax department is responsible for providing this number to every potential taxpayer to curb tax evasion.
This is made possible since PAN is an electronic system that tracks the financial transactions of every tax paying citizen. Here two individuals cannot have the same number. This unique identification number is allotted to every individual via a laminated card called the PAN card.