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== Uses == The primary purpose of the PAN is to bring a universal identification to all financial transactions and to prevent [[tax evasion]] by keeping track of monetary transactions, especially those of high-net-worth individuals who can impact the economy. In Union Budget 2023, the government proposed to use PAN as a common identifier for all business establishments using digital systems of various government agencies.<ref>{{Cite news |date=2023-02-01 |title=Budget 2023-2024: Govt proposes PAN as common identifier |work=The Economic Times |url=https://economictimes.indiatimes.com/news/economy/policy/budget-2023-2024-govt-proposes-pan-as-common-identifier/articleshow/97516977.cms |access-date=2023-06-21 |issn=0013-0389}}</ref> Quoting the PAN is mandatory when filing ITR, [[Tax Deducted at Source|tax deduction at source]], or any other communication with the [[Income Tax Department]]. PAN is also steadily becoming a mandatory document for opening a new bank account, a demat account, a new landline telephone connection / a mobile phone connection, purchase of foreign currency, bank deposits above βΉ50,000, purchase and sale of immovable properties, vehicles etc.<ref name=":0">{{Cite web|url=http://www.utiitsl.com/utitsl/site/pan.jsp|title=UTIITSL India: Financial & IT Service Provider, PAN Card Issuer<!-- Bot generated title -->|url-status=dead|archive-url=https://web.archive.org/web/20140413140546/http://www.utiitsl.com/utitsl/site/pan.jsp|archive-date=13 April 2014}}</ref><ref>{{Cite web|url=https://www.protean-tinpan.com/|title=TIN|website=www.protean-tinpan.com}}</ref>
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