Aadhaar card issued by the Unique Identification Authority of India (UIDAI) on behalf of the Government of India is a 12 digit identification number of an individual that can be obtained by both resident Indians and NRIs if they meet the verification criteria set by the card issuing authority.
PAN is a 10-digit alphanumeric figure which is mandatory for many a financial transactions, including tax filing, also serves as an ID proof for the concerned in case of bank account opening, applying for a new telephone connection, real estate transaction etc. To know about the importance of PAN click here. PAN is issued by the Income tax dept. after verification of the details of the concerned individual and for that it requires certain proofs for the identification as well as the address. For such proofs, the department accepts only some enlisted documents.
For ID proof, the tax department other than the newly included Aadhaar card also accepts other documents such as election ID card, passport, driving licence, ration card bearing photograph of the PAN applicant, photo identity card issued by public sector undertaking (PSU) or a government entity and arms licence.
For address proof, the department accepts landline telephone or broadband bill, electricity bill, gas connection card, gas bill, passport and bank account statement of applicant or even spouse among others.
As per the previous RBI notification, Aadhaar card also serves as the valid proof for bank account opening under the KYC norms and also for applying for a passport.