About PAN
PAN - All are now familiar with this 3 letter word because of the advent of another 3 letter word TDS which made very small business man to take up PAN and brought him into the net of taxation
What is it ? - PAN Permanent Account Number unique alphanumeric number given by the income tax department for the assessee (tax payer / who is assessable to tax) one has to apply to get a pan for which there are 3 forms
49A - for citizens of india and company or units incorporated or unincorporated units or persons in india
49AA - for non indians and companies/units whether incorporated or not in india
49B - correction in PAN data or duplicate PAN card for lost card or damaged card
Contents of PAN Card
IT will have the following
Name of the Individual or the company or firm or artificial person
Father Name of the Individual
Date of Birth or Date of Commencement
Pan No.
Signature / Left thumb impression
Photo in the case of individuals
Structure of PAN
The Pan No. - eg. A Pan of the individual will be as follows AXYPR7798B
all the Pan nos. are in the same format i.e. it will have first 5 alphabets then 4 numeric and last 1 being the alphabet.
from this you can find the capacity of the pan holder by noting the 4 character of the PAN
in the above PAN it is - P denotes Person i.e. Individuals
like wise the other alpabets will be
C for Company
F for Partnership firm
H for HUF
T for Trust
A for Association of Persons (AOP)
B for Body of Individuals (BOI)
L for Local Authority
J for Artificial Juridical Person
G for Government
