Pan? No. What number is that? The number refers to the meaning of the number.

In many countries, pan is authorized by the government. The purpose of this is to prevent fraud or identity theft if the printed receipt is accidentally lost or discarded.

At present, there are regulations in India that all domestic and foreign enterprises that have trade relations with India must apply for this pan number. If not applicable, 20% withholding income tax will be deducted at the time of payment. If there is a pan number, the tax will be deducted according to the agreement.

Extended data:

Pan is the main account number, usually the bank card number, mobile phone card number and so on. , which can support transactions and is often seen in e-commerce transactions.

Pan is a technology to prevent most of the numbers of customers' credit cards, debit cards or bank accounts from appearing on the receipts printed by customers. General point-of-sale terminals (POS) use the main account number (PAN) for truncation, which has become very common in recent years.

Most credit card accounts consist of 16 digit strings (four groups of four digits). When the main account number is used for truncation, only the last four digits are displayed in the printed receipt sent to the customer. The first three groups of four digits on the customer receipt are replaced by wildcards, usually asterisks (*).

The receipt contains enough relevant information that the buyer can use to confirm the transaction when necessary. This information includes the name and storage location of the retailer, the list of purchased items, the purchase amount of each item, the sales tax amount, date and time. Many banks also take similar truncation measures for deposit or withdrawal receipts sent to customers.

References:

Pan _ Baidu encyclopedia