PAN FULL FORM

Full Form of PAN : Permanent Account Number

What is the full form of PAN?

No:1. The full form of PAN is Permanent Account Number.
No:2. The PAN card is a set of ten-digits alphanumeric characters issued through the Department of Income Tax.
No:3. PAN comprises both numeric and alphabetic digits.
No:4. PAN card comes in a tangible form that the specific PAN number is assigned including Organization Name, DOB, a photo that can also be provided as identification proof and for several other regulatory standards.

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PAN Card format

No:1. The PAN card format contains information about the person such as name, Date of birth (DOB), as correlated with the KYC regulations. The PAN card provides the following pieces of information
a). Individual’s Name
b). Name of the applicant ‘s father
c). The applicant’s Birth Date. Registration date with the appropriate authority in the case of non-individuals.
No:3. The PAN card is issued as AAAPL1234C. In the PAN format’s 1^st four characters are English characters, the next 4 are English numerals, and the last one is letter again.
No:4. Example: Consider a PAN card number ABCPNXXXXC
The 4^th character of the 10 -digit numbers reflects the holder status of the PAN number.
a). P is an Individual
b). C means Company
c). H stands for the HUF (Hindu Undivided Family)
d). A describes the AOP (Association of Persons)
e). B stands for BOI (Body of Individuals)
f). G symbolizes the Government Agency
h). J stands for Artificial Judicial person
i). L stands for local authority
j). F reflects Firm or Limited Liability Partnership
k). T symbolizes Trusts
No:5. The 5^th character of PAN 10 digit number corresponds to the 1^st character of the Individual’s surname or last name.
No:6. For non- individual 5^th characters describe the 1^st letter of the name of PAN cardholder name.
No:7. 6^th to 9^th characters are numerals from 0001 to 9999.
No:8. The 10^th character represents the alphabetic check digit.

Different types of PAN

The various types of PAN cards are listed below.
No:1. Individual
No:2. Trust
No:3. HUF – Hindu Undivided Family
No:4. Company or Corporation
No:5. Artificial Judicial Person
No:6. Minor
No:7. Society
No:8. AOP – Association of person
No:9. Firm or Limited Liability Partnerships

Necessary documents for PAN Card

The documents are explicitly needed for primary 2 purposes to substantiate proof of identity and proof of address. The following are the significant documents required for the PAN numbers depending on the PAN form for which they are applying :
No:1. Individuals
Required documents are
a). Voter ID
b). Driving licence
c). Adhar card
d). Passport
No:2. HUF (Hindu Undivided Family)
Required documents are
a). An affidavit of Hindu Undivided Family on behalf of members including DOB identification of the member and address proof of the members. 2. Companies
b). Register certificate of the company issued by the register.
No:3. Trust
Trust deed and registered certificate number issued by trust and charity commissioner.
No:4. Society
Registered certificate number issued by commissioner of cooperative society.
No:5. Foreigners
Bank statement of residential country, passport, bank statement of NRE account in India.

Importance of PAN Card

No:1. PAN number is required for proof of identity and for filing an income tax return.
No:2. For bank purposes such as opening an account, getting a loan or credit card, etc., PAN number is required.
No:3. A PAN is an essential document for the sale or purchase of a property worth more than five lakh.
No:4. PAN number is necessary when buying or selling automobiles, etc.
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