PAN CARD is a document, which is required for many essential functions in daily use. PAN number is required to pay income tax returns. Booking for Instant tickets also require ID proof, PAN number to which most people recognize as important in our life.
Ever wondered what the Permanent Address Numbers are, actually, What is hidden in the PAN Card number, which is required of you and the Income Tax Department. Let me provide you full information related to PAN CARD and PAN number. We also show the number of what it means to have a PAN card.
Now know what happens to every number printed on the PAN card:
The PAN card number is a 10 digit special number, which comes in the form of laminated cards. Income Tax Department to issue it to those who have applied for PAN card. Upon completion of the PAN card, the all financial transactions of the person linked to the tax departments. The Department monitors these tax payment, such as credit card financial transactions.
The first three digits of this PAN card number are letters of English. Ranging from AAA to ZZZ It can be any letter. According to the latest ongoing series are decided. This number determines its own department.
P- single person
F- firm
C- Company
A- AOP (Association of Persons)
T- Trust
H- HUF (Hindu Undivided Family)
B-BOI (Body of Individual)
L- local
J- Artificial Judicial Person
G- Government
Note: the use of the image is just for presentation.
Fifth Digit PAN card number is one such letter in English. This letter is the first letter of the surname of the cardholder pan. It just depends on the holder. Significantly, it is seen as just the holder’s last name.
Then there is PAN card number 4. The numbers from 0001 to 9999, no one can. These numbers reflect the series of your PAN card, which is currently ongoing in the Income Tax Department. The last Czech Digit Digit is an alphabetic character, which can be any letter.
What situations a PAN card required?
Various financial transactions with the help of PAN card are easy. It can help you open a bank account and demat account. In addition to property transactions is necessary. Indeed, PAN card is required to gain Taxable salary or professional fees. It is also required to file income tax returns.
PAN card contains the name and photograph, such as this works like an identity proof. Even if your address changes, but does not change the PAN.
PAN to avoid higher rate tax deduction card is required. Indeed, when you start depositing amounting to over Rs 50, is to give a photocopy of the PAN card. In the absence of pan your TDS will be deducted at a higher rate.
PAN card is also required in these circumstances
- Buy and sell vehicles other than two-wheelers
- At a hotel or restaurant in the payment of more than Rs 25 thousand
- To buy shares of a company paying 50 thousand rupees or more
- For purchase of bullion or Jewelry payment of more than Rs. five lakh
- Price of five lakh rupees or more purchase and sale of real estate
- Bank deposits over Rs. 50 thousand
- Foreign visit payment of more than Rs. 25 thousand
- RBI to buy bonds paying 50 thousand rupees or more
- Buy bonds or debentures of a company or institution to pay 50 thousand rupees or more
- Mutual fund purchase
What to do When You Lost Your PAN CARD
PAN card is today an integral part of any financial transaction. In addition it also acts as a person’s identity. In such a PAN card is missing, then it is bound to be upset. But it does not need to worry because the PAN card is easy enough to make again.
Step One
Go to the website of the Income Tax PAN Services Unit. Here you’ll see several options. Of these, the reprint of the pan card option should adopt. It is for those who already have Permanent Account Number (PAN) has been allotted, but they are in need of PAN card again. After adopting this option a new PAN card is issued to the applicant, which is the same number.
Step Two
You must fill all the columns in this form, but does not have to check the box in the left margin. After that you will have to pay Rs 105. If you prefer credit card, debit card, net banking, it can pay through Demand Draft or Cheque. After completing all of these processes when it will submit the form, you will Receive an Acknowledgment.
Step Three
Remove the print of the receipt. Paste a 2.5 cm-by-3.5 cm sized color photograph on it. Sign. If you paid through Demand Draft or Cheque, then attach the copy. Then it should be sent with id proof, address proof and proof of date of birth to the NSDL office in Pune.
The PAN CARD code has your information, learn their meaning
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