PAN (Permanent Account Number) is a unique ten-digit alphanumeric number issued by the Income Tax Department in India in the form of a laminated card. PAN number is must for all those who file their income tax returns.
Also PAN card is necessary for all financial transactions such as opening a bank account, receiving taxable salary or professional fees, sale or purchase of assets above specified limits. It also serves as an important ID proof. PAN number is unaffected by a change of address, even between states.
PAN number is also equivalent to Social security number issued in United States.
PAN Number Format
PAN number is a ten-digit alphanumeric number. It's like 'AAAAA4444A'. The first 5 characters are letters, next 4 numerals and last character letter. If the PAN number doesn't follow this format, then it will be rejected.
The fourth Character can be any of the following letters
- C — Company
- P — Person
- H — HUF(Hindu Undivided Family)
- F — Firm
- A — Association of Persons (AOP)
- T — AOP (Trust)
- B — Body of Individuals (BOI)
- L — Local Authority
- J — Artificial Juridical Person
- G — Govt
In the case of personal PAN card, the fifth character is the first character of the surname/lastname.
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