The concept of a Permanent Account Number (PAN) was first introduced in India in 1972, as part of the Taxation Laws (Amendment) Act. At the time, the PAN was a 10-digit alphanumeric code that was used primarily for the identification of taxpayers.

However, it wasn’t until 1995 that the Indian government began issuing PAN cards as physical documents. These cards were designed to be used as proof of identity for financial transactions, such as opening bank accounts, applying for loans, and filing income tax returns.

Initially, PAN cards were issued by the Indian government’s National Securities Depository Limited (NSDL) and the Unit Trust of India (UTI). However, in 2003, the responsibility for issuing PAN cards was transferred entirely to the NSDL.

Over the years, the PAN card has become an essential document for individuals and businesses in India. It is now required for a wide range of financial transactions, including opening a bank account, purchasing or selling immovable property, and applying for a credit card or loan.

To make the process of obtaining a PAN card more convenient, the Indian government has introduced several measures over the years, such as online PAN application, e-KYC (Know Your Customer) verification, and linking PAN cards with Aadhaar (a unique identification number issued by the Indian government).

In conclusion, the history of the PAN card in India dates back to 1972 when the concept of a Permanent Account Number was first introduced. Today, the PAN card is an essential document for individuals and businesses, and the Indian government has taken several steps to make the process of obtaining and using a PAN card more convenient.

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