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Your deep secret hidden in 10 numbers of PAN card, know why each number is special – Pan card structure Meaning Importance India KYC Tax Return

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In today’s time, Permanent Account Number (PAN) has also become an important document like Aadhaar card, especially if it is about financial transactions. It is an identity of alphanumeric ie alphanumeric of a 10-conten. It is also given to companies and institutions along with individuals. PAN is mandatory for every major financial work, from filling jobs, tax returns in the organized sector, investment in the stock market and purchasing property.

Let us know that 10-nails have alphanumeric identity, what it means and how it is decided.

What is PAN’s structure?

PAN number one is issued in fixed format, such as abcde1234f. Every part of it shows some special information:

  • First three letters: Series of English letters (from AAA to ZZZ)
  • Fourth letter: It states what kind of holder PAN has been released.
  • Fifth letter: The nickname of the person or the first letter of the name of the institution.
  • Next four digits: Any number from 0001 to 9999.
  • last letter: There is a check digit (alphabet).

Types of Pan holders and their code

The fourth letter of PAN shows what kind of holder that card is in the name of the holder. You can understand it better by looking in the table:

Code Type of holder
P

Individual
C

Company
H

Hindu undivided family (HUF)
A

Association of individuals (AOP)
B

Group of individuals (BOI)
G

Government agency (government)
J

Artificial judicial person
L

Local authority
F

Firm or partnership firm
T Trust

Why is PAN necessary?

PAN is not just a tax related document, but it is also your economic identity. Its major uses are:

  • To file income tax returns.
  • High value transactions such as property, car, share or mutual funds.
  • Opening of an account in a bank or making a credit card.
  • KYC as identified in the process.
  • In checking loans and credit profiles.

The government monitors the financial activities of the people through PAN. This helps in prevention of black money. Without this, it is not possible to take advantage of many government and private services nowadays. If you have not yet made a PAN card, you can get it made online or offline.

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