PAN (Permanent Account Number) is a unique ten-digit alpha numeric number issued by the Income Tax Department. PAN is issued in the form of a plastic card. PAN enables identify all transactions of the PAN holder with the department. These transactions include tax payments, TDS/TCS specified transactions, correspondence etc., and so on. It facilitates retrieval of information of PAN holder and various investments, borrowings and other activities of PAN holder.
The structure of the ten characters of PAN:-
- First three characters are alphabetic series running from AAA to ZZZ.
- Fourth character of PAN represents the status of the PAN holder.
- 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 – Government;
- Fifth Character represents first character of the PAN holder’s last name/surname.
- Next four characters are sequential numbers running from 0001 to 9999.
- Last character in the PAN is an alphabetic check digit.
A person cannot hold more than one PAN. If a person has been allotted more than one PAN then he should immediately surrender the additional PAN card.
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