Today we will talk about what is a PAN card and some information related to it. It is very important for people living in all the countries in the world to have an identity card because it can be detected by which identity a person is a resident of that country.
People of every country have different identity cards and this is very useful in our everyday life as well. There are many such cards in our country, through which people here are identified such as Aadhar Card, Voter Card, Driving License etc.
Apart from all this, there is one more thing which is very important for the work related to the bank besides providing us identity and that is PAN card. I will tell you through this article what is the PAN card and all the important things related to it.
The full name of the pAN card is Permanent Account Number. It is a unique identity card and is considered very important in any kind of financial transaction.
An alphanumeric number of 10 digits is present in the pAN card, which is available from the income tax department. The PAN card is made in India as a laminated card under the Income Tax Act, 1961, which the income tax department issues under the supervision of the Central Board for Direct Taxes (CBDT).
PAN card is very important to pay income tax from your income.
The number which is present in the PAN Card is necessary for all types of major financial transactions such as opening a bank account, to get taxable salary, to buy or sell money property and jewelry, etc. PAN card in all these things. This is the reason why all the details of the account holder are present in this card.
The PAN Card is the size of your debit and credit card and your details such as your name, father’s name, date of birth, your signature and your permanent account number and photo are printed on the card.
What is PAN Card Full Name?
Pan Card is called Permanent Account Number in Hindi. Whereas if we speak English then it is called “Permanent Account Number”.
What is the meaning of Alphanumeric Number of 10 Digit present in PAN Card?
I have already told that the PAN card has an alphanumeric number of 10 digits, in which many of your information is hidden such as BRUPM2756D.
The first five letters are alphabets of english, the next 4 is the digit number and the last one is alphabet again. All alphabet is in the capital.
According to the meaning of all these digits
There are coding. Very common people do not have this information which are important. We would like to tell you in a simple way.
1. The first three words. The first three words are of a normal alphabetic series, which uses alphabet from A to Z, such as ANZ or any other letter like RJY.
2. Fourth letter. The fourth letter describes the position nearest to the holder of the card. This is the most important letter of this card which expresses the status of a person.
This fourth letter is the letter “P” on the number of PAN holders, which means “person”. The second 9 letters which describe the fourth character are as follows.
A – Association of Persons
B – Body of Individuals
C – Company
F – Firm
G – Government
M – MUSLIM Undivided Family
L – Local Authority
J – Artificial Juridical Person
T – Trust
3. Fifth letter. If the PAN card is personal, then the fifth letter is the person’s last name or the first letter of surname like Salman Mansuri is the name, then the fifth letter on the PAN card number will be “M”.
And if the PAN card is for a trust, organization, company, government etc. then the first letter of its name is in the fifth letter.
4. Six to nine letters. These four letters are four random numbers from 0001 to 9999.
5. Tenth letter. The last letter of the PAN card is the check digit of the alphabet which is generated by a formula taking the remaining 9 characters.
1. PAN card contains photo, name and signature so it can also be used as an identity card.
2. Its main use is to pay taxes. Without PAN card, you may have to pay more in tax.
With the help of unique number of PAN card, income tax department links all the transactions done by a person and keeps an eye on them so that the evasion of tax can be prevented.
3. It is not only necessary to pay taxes but also for any high value transactions.
The person doing the job needs the PAN card the most, which makes it easier for them to fill the payment.
4. Nowadays, PAN card is required to open an account in all banks also.
5. PAN Card avoids all kinds of disturbances or problems in income tax.
6. A PAN card is required at the time of buying or selling property to build a house. It is also needed at the time of purchasing vehicles.
7. If you are an NRI, you can easily buy property with the help of PAN card and can also start your business in this country.
How to make PAN card?
Earlier only government employees could apply for PAN card in Hindi, but now it is not so at all, any person, company, organization etc. can apply for PAN.
NRI person, that is, who is not a citizen of this country, can also apply for PAN card.
It is very easy to apply for this, you can get the app made in two ways, first you can either go to the income tax department website incometaxindia.gov.in or tin-nsdl.com or utiitsl.com to form a PAN card. Can be filled.
And secondly if you want, you can go to the service center in your city where PAN cards are made.