PAN card is one of the most vital proofs of your identification. This proof is required, in almost every work. You may need it for opening a bank account, applying for a passport, or even for making investments. If you are going to apply for a job, or you are opting for taking a loan, for all you need a PAN. PAN card details verification, is done by the risk checking unit of any organization that received an application from a person for loan, account opening, job application, and various other things. Keeping this verification subject by side, we recommend you as an individual to know what your or other’s PAN number stores.
PAN or Permanent Account Number consists of 10 digits. It is the combination of alphanumeric numbers. This number contains some vital information about the person or the organization in whose name the PAN card has been allotted. Yes, just like individuals, organizations, or businesses also have PAN numbers.
The Income Tax Department of India issues this card through UTI and NSDL. The Department follows the particular methodology of allotting the permanent account number. This number is not generated at random by the computer.
A 10-digit PAN displays a combination of both alphabets and letters. Let’s check how these letters and alphabets are determined.
- You must have noticed that the first five digits of a PAN are always alphabets. Out of these five characters, the first three represent the series of alphabets from A to Z.
- The fourth character denotes your identity. That means it will disclose who you are as per the Income-tax department. So, while you will do the PAN card details verification, you will come to know what the fourth letter speaks about.
- It will be P if the card is issued for an individual.
- If the PAN cardholder is a company, then the fourth letter will be C.
- If you notice that it is H, then you need to understand that the card is issued for a Hindu Undivided Family.
- For an Association of Person, this letter will be A (AOP)
- If the letter is B, then it denotes the Body of Individual (BOI)
- If the card is issued for a Government Agency, then the fourth letter will be G.
- It will J for the artificial judicial person and L for the local authority.
- F denotes the Firm or Limited Liability Partnership.
- A Trust represented as T.
The fifth character of the PAN will denote the surname of an individual. In the case of non-individual, the fifth character will be the first character of the name of the organization. Now you will notice four numbers, and these are sequential numbers from 01 to 99. The last digit character of the PAN will always be an alphabet. So, everyone must understand what a PAN denotes. If you are an employer, then you can easily check the details of the PAN of the applicant and ensure if it is correct or not.
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