What is the significance of furnishing Permanent Account Number?

As per the provisions of income tax, every person receiving any sum or income from which tax would be deducted should furnish his PAN to the person deducting the tax. Please note if PAN is not furnished then form 15G/H or any other Exemption Certificate submitted will be invalid and tax will be deducted at the higher rate as applicable.

In the absence of PAN, no credit of the tax deducted shall be available in Form 26AS on the NSDL website. Also if PAN is not submitted, no TDS certificate will be generated from TIN website for the tax deducted by the company.