What is the complete sort of PAN?
PAN Full Form is Permanent Account Number. The PAN card may be a set of ten-digits alphanumeric characters issued through the Department of tax . PAN comprises both numeric and alphabetic digits. PAN card comes during a tangible form that the precise PAN number is assigned including Organization Name, DOB; so a photograph which will even be provided as identification proof and for several other regulatory standards.
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PAN Card format:
The PAN card format contains information about the person like name; Date of birth (DOB), as correlated with the KYC regulations. The PAN card provides the subsequent pieces of data
- Name of the applicant ‘s father
- The applicant’s Birth Date. Registration date with the acceptable authority within the case of non-individuals.
- The PAN card is issued as AAAPL1234C. Within the PAN format’s first four characters are English characters; subsequent four are English numerals; and therefore the last one is letter again.
- 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 a private
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 govt Agency
J stands for Artificial Judicial person
L stands for agency
F reflects Firm or indebtedness Partnership
T symbolizes Trusts
The fifth character of PAN 10 digit number; so corresponds to the primary character of the Individual’s surname or surname . For non- individual 5th characters describe the primary letter; so the name of PAN cardholder name. PAN Full Form is Permanent Account Number.
Sixth to ninth characters are numerals from 0001 to 9999.
The tenth character represents the alphabetic check digit.
Various sorts of PAN
The various sorts of PAN cards are listed below:
- HUF – Hindu Undivided Family
- Company or Corporation
- Artificial Judicial Person
- AOP – Association of person
- Firm or indebtedness Partnerships
- Necessary documents for PAN Card
The documents are explicitly needed for primary 2 purposes to substantiate; so proof of identity and proof of address. The subsequent the many documents required for the PAN numbers; so counting on the PAN form that they’re applying. PAN Full Form is Permanent Account Number.
Individuals Required documents are:
- Voter ID
- Driving licence
- Adhar card
HUF (Hindu Undivided Family) Required documents are:
- An affidavit of Hindu Undivided Family on behalf of members including DOB identification; so the member and address proof of the members.
- Register certificate of the corporate issued by the register.
So trust deed and registered certificate number issued by trust and charity commissioner.
Registered certificate number issued by commissioner of cooperative society.
So bank statement of residential country, passport; statement of NRE account in India.
Importance of PAN Card:
- PAN number required for proof of identity and so for filing an tax return.
- For bank purposes like opening an account, getting a loan or mastercard; etc so PAN number is required.
- So a PAN is an important document for the sale or purchase of a property worth quite five lakh.
- PAN number is important when buying or selling automobiles, etc.