If you are not one of the 170 million people in India with a Pan Card, apply for one at the first chance you get. They are needed for income tax and other banking purposes. If you do not store your money under your mattress but in a bank, you would need one. The lack of having one can result in your bank accounts being blocked. Furthermore, only 30 million Indian citizens pay income tax which means there are a large number of people not within the tax bracket and a larger number not paying tax at all.
The Government is going a step further and pushing for the connection of Aadhaar cards and Pan Cards so they would have everyone's information in one place.
If you are looking to create a Pan Card for yourself, head over to Pan Card Seva and begin the process today. You can do this from the comfort of your house, at your convenience, and you would get the card delivered to your doorstep. There is also an option to use the Hindi version of the website if it's better suited for your needs.
In many Indian states, processing of Pan Card documents and attachments takes less than 48 hours, while submitting everything at the office might take up to a week.