PAN refers to the Permanent Account Number.It is comprised of 10-digit alphanumeric number issued by Income Tax Department to everyone who applies for PAN card.PAN card is an essential proof of identification.It is extremely important as it is mandatory for the purpose of financial transactions.The PAN card is required for most of the financial transactions such as opening bank account,getting taxable salary or professional fees,sale or purchase of assets above specified limits etc.There are so many advantages having a PAN card.For payment of direct taxes,to file income tax returns,to avoid deduction of tax higher rate than due,Purchase of jewellery etc.So it is so important today.People who don't have PAN card can apply new pan card online today.Since we need PAN card for most of the financial transactions,it is better to apply for it soon.