What is the Full Form of PAN Card?

What is the Full Form of PAN Card?

PAN full form is a permanent account number and is a unique code allocated to taxpayers in India. The Central Board of Direct Taxes supervises PAN. PAN is considered a national identity proof and is mandatory for all professionals or salaried people.

Pan is also considered an essential document while opening a bank account. The Pan number remains unaffected irrespective of any change of address. Indian nationals can obtain this national document without any fees, but an individual can only possess one card.

The Permanent Account Number, PAN, or Personal Identification Number, is used as a system for identifying various types of taxpayers across the country. PAN is a ten-digit unique number (that comprises both alphabets and numbers) that is assigned to Indians who primarily pay taxes.

The PAN system of identifying could be a computer-based system that assigns each Indian taxpaying entity a very unique number. All tax-related information for a private person is recorded using this method, which uses one PAN number as the primary key for data storage. Because this information is shared across the country, no two of those who work for tax-paying entities can have identical PAN.

When an entity is assigned a PAN, the levy Department also issues a PAN Card. PAN Card is a card that contains your PAN, similarly to your name, date of birth (DoB), and portrait. Copies of this card could even be wont to prove your identification or date of birth.

Structure of a Pan Card

Pan is a unique identifier and consists of 10 alphanumeric entities. It is a mandatory document for Indian nationals under the Income Tax Act of 1961. The two authorities that are allowed to issue plans are UTI Infrastructure Technology and Services Limited and NSDL e-Governance Infrastructure Limited. The structure of the Pan card is as follows:

AAAKL1324X – Here, the first 5 characters are letters, the next four numerals, and the last character is again a letter.

The PAN shape is as follows: Fourth person (P — Individual or Person)

The first five characters are letters (in uppercase by way of default), accompanied by four numerals, and the last (tenth) individual is a letter.

The first 3 characters of the code are three letters forming a chain of alphabetical letters from AAA to ZZZ

The fourth character identifies the form of the holder of the card. Each holder kind is uniquely defined with the aid of a letter from the list beneath:

  1. A – Association of persons
  2. B – Body of Individuals
  3. C – Company
  4. F – Firm
  5. G – Government
  6. H – HUF (Hindu Undivided Family
  7. L – Local Authority
  8. J – Artificial Judicial person
  9. P – individual 
  10. T – AOP (Trust)
The fifth Character has the first character of the Pan holder's last name in the case of an individual. In the case of non-individuals, the 5th character represents the first character of the pan holders' name. 

 



Created & Posted by (Twinkle)
Accountant at TAXAJ

TAXAJ is a consortium of CA, CS, Advocates & Professionals from specific fields to provide you a One Stop Solution for all your Business, Financial, Taxation & Legal Matters under One Roof. Some of them are: Launch Your Start-Up Company/BusinessTrademark & Brand RegistrationDigital MarketingE-Stamp Paper OnlineClosure of BusinessLegal ServicesPayroll Services, etc. For any further queries related to this or anything else visit TAXAJ

Watch all the Informational Videos here: YouTube Channel

TAXAJ Corporate Services LLP

Address: 1/11, 1st Floor, Sulahkul Vihar, Old Palam Road, Dwarka, Delhi-110078

Contact: 8961228919 ; 8802812345 | E-Mail: connect@taxaj.com

    • Related Articles

    • How to Download PAN Card?

      Procedure to download e-PAN card through the NSDL or UTITSL portal. e-PAN card is a digitally signed Permanent Account Number (PAN) which is issued in an electronic form. The e-PAN card is a valid proof of allotment of PAN. Download e-PAN Card by ...
    • How to Apply New PAN Card?

      PAN Card is a nationalized identity card. Without a PAN (Permanent Account Number) you will not be able to carry out any financial transaction. It is the Indian Income Tax Department that allocates this 10-digit alphanumeric and unique account number ...
    • Benefit of Minor PAN Card, Procedure to Apply & Income Tax

      Most Indians are under the impression that a PAN Card can only be allotted once a person turns 18 years of age. However, this is a myth as Minors can also apply for PAN Card and the Income Tax department also allots PAN Card to Minors without any ...
    • How to Apply E-Pan Card or Instant Pan Card ?

      To download instant e-PAN from the new income tax portal, one needs to first login at the portal and then click at 'Our Services' on the lower side of extreme left. The one needs to click at 'Instant E PAN' and follow some simple steps to download ...
    • Form 15G & Form 15H to Save TDS on Interest Income

      Forms 15G & 15H: What can you do to ensure the bank does not deduct TDS on interest if your total income is not taxable? Banks have to deduct TDS when your interest income is more than Rs.40,000 in a year for individuals other than senior citizens ...