The issuance of a PAN refers to the voluntary cancellation or suspension of an individual’s or a company’s Permanent Account Number (PAN) card. This procedure is usually done when the PAN card holder does not need a PAN or gets too many PANs due to bureaucratic error or scrutiny. The issuance of PANs is crucial for maintaining accurate records and complying with legal requirements, as having multiple PANs is illegal under Indian law To submit the PAN card, the cardholder has to make a valid request to the Income Tax Department through the proper channel, by submitting an online or physical application form. The request should mention details like PAN to be furnished, reason for furnishing and supporting documents (if any). Once the request is processed and approved by the Income Tax Department, the PAN card is activated and the PAN number is marked as assigned to the database The issuance of a PAN helps prevent incorrect transactions, ensures accurate tax reporting, and facilitates financial transactions by maintaining a single valid PAN number for an individual or entity. It is important to follow the procedures and guidelines issued by the Tax Department to facilitate a smooth PAN application process.