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The New PAN Series
The PAN series was rolled out in 1995, as the old one was inadequate and had so many drawbacks as we already discussed earlier.
The new PAN Series has the following advantages:
- It links all past and present tax related information to a single identification number.
- With the launch of the new series, information retrieval became easier.
- All investments, loans, credits, and debits have been linked to individual PANs making it easier to prevent tax fraud or evasion.