What is the full form of PAN?
The PAN full form is Permanent Account Number. The PAN card is an alphanumeric ten-digit number issued by the Department of Income Tax. PAN is made up of both numeric and alphanumeric digits. The Apply for PAN card is a physical document that includes the issued PAN number, the organization’s name, date of birth, and a photograph that can be used as identity proof and for other regulatory purposes.
Read Other Full Forms
PAN Card format
The PAN card format includes personal information, such as the individual’s name and date of birth (DOB), in accordance with KYC standards. The PAN card has the following data elements:
- Individual’s Name.
- Father’s name of the applicant.
- The applicant’s Date of Birth. Date of registration with the appropriate authority for non-individuals.
- The issued PAN card number is AAAPL1234C. The first four characters in the PAN format are English letters, the next four are English numerals, and the final character is just another letter.
Example: Consider a PAN card number ABCPNXXXXC
- The fourth character of the ten-digit numbers reflects the holder status of the PAN number.
- P is an Individual
- C means Company
- H stands for the HUF (Hindu Undivided Family)
- A describes the AOP (Association of Persons)
- B stands for BOI (Body of Individuals)
- G symbolizes the Government Agency
- J stands for Artificial Judicial person
- L stands for local authority
- F reflects Firm or Limited Liability Partnership
- T symbolizes Trust
- The fifth character of the PAN 10-digit number corresponds to the first character of the Individual’s surname or last name. For non-individual 5th characters, describe the first letter of the PAN cardholder name.
- Sixth to ninth characters are numerals from 0001 to 9999.
- The tenth character represents the alphabetic check digit.
Documents required for a PAN Card
The documents are required for two principal purposes: establishing proof of identification and proof of residence. Depending on the PAN application form, the following are the necessary documents required for PAN numbers:
1. Individuals
Required documents are
- Voter ID
- Driving licence
- Adhar card
- Passport
2. HUF (Hindu Undivided Family)
Required documents are
- An affidavit of Hindu Unmarried Family on behalf of its members, comprising identification of the member’s date of birth and evidence of address.
- Register-issued certificate of the company’s registration.
3. Trust
The registration certificate number and trust deed issued by the trust and charity commissioner.
4. Society
The registered certificate number issued by the cooperative society’s commissioner.
5. Foreigners
The bank statement of the country of residence, the passport, and the bank statement of the NRE account in India.
Various types of PAN
The various types of PAN cards are listed below.
- Individual
- Trust
- HUF – Hindu Undivided Family
- Company or Corporation
- Artificial Judicial Person
- Minor
- Society
- AOP – Association of person
- Firm or Limited Liability Partnerships
Value of a PAN Card
- To establish one’s identification and file an income tax return, a PAN number is required.
- A PAN number is required for bank-related activities such as opening an account, obtaining a loan or credit card, etc.
- A PAN is required when selling or buying a property worth more than five lakh rupees.
- The PAN number is required for purchasing or selling vehicles, etc.
