PAN stands for Permanent Account Number<\/strong>, a set of ten-digits alphanumeric characters that the Department of Income Tax issues. It is in a tangible form and every individual has a unique PAN number that comprises of Organization Name, DOB, a photo that serves as identification proof and is necessary for several other regulatory standards.<\/p>\n The PAN card format contains information about the PAN card holder like their name, Date of birth, as correlated with KYC regulations. It provides the following information:<\/p>\n Example: Consider a PAN card number XYZPNXXXXZ<\/strong><\/p>\n 1. Fourth character: Holder status of the PAN number<\/p>\n 2. Fifth character: For individuals, it is the first character of their last name and for non-individuals, the first letter of the PAN cardholder\u2019s name.<\/p>\n 3. Sixth to ninth characters: numerals from 0001 to 9999.<\/p>\n 4. Tenth character: represents alphabetic check digit<\/p>\n Types of PAN cards are:<\/p>\n 1. Individual Documents are necessary as they can substantiate proof of identity and proof of address. Following are the important documents necessary for the PAN numbers depending on the PAN form:<\/p>\n Required documents:<\/p>\n 1. Voter ID Required documents:<\/p>\n 1. An affidavit of Hindu Undivided Family Required documents:<\/p>\n Register certificate of the company (issued by the registrar).<\/p>\n Required documents:<\/p>\n 1. Trust deed Required documents:<\/p>\n Registered certificate number (issued by the commissioner of cooperative society).<\/p>\n Required documents:<\/p>\n 1. Bank statement of residential country 1. An important document that acts as identity proof and is a requirement for filing an income tax return.<\/p>\n 2. PAN number is a necessity when opening an account in a bank, getting a loan or credit card, etc.<\/p>\n 3. Important during the sale or purchase of automobiles (except two-wheelers) or property worth more than five lakh.<\/p>\n 4. Acts as identity proof<\/p>\n 5. Keeps a record of tax payments and is a necessary document when submitting direct taxes<\/p>\n 6. Help get electricity, LPG, and internet connections<\/p>\n 7. Unique PAN number makes evading tax difficult<\/p>\n 8. An important document when purchasing mutual fund shares or transferring money out of the country<\/p>\n 9. An important document when buying an insurance policy of more than Rs 50,000 or making hotel payments of Rs 25,000 and more<\/p>\n","protected":false},"excerpt":{"rendered":" What is the full form of PAN? PAN stands for Permanent Account Number, a set of ten-digits alphanumeric characters that the Department of Income Tax issues. It is in a tangible form and every...<\/p>\n","protected":false},"author":1,"featured_media":106907,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[25023],"tags":[26397,26398,26399],"class_list":["post-106865","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-full-form","tag-full-form-of-pan","tag-pan","tag-permanent-account-number"],"yoast_head":"\nPAN Card format<\/h3>\n
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Various types of PAN<\/h3>\n
\n2. Trust
\n3. HUF (Hindu Undivided Family)
\n4. Company or Corporation
\n5. Artificial Judicial Person
\n6. Minor
\n7. Society
\n8. AOP (Association of person)
\n9. Firm or Limited Liability Partnerships<\/p>\nNecessary documents for PAN Card<\/h3>\n
1. Individuals<\/h4>\n
\n2. Driving license
\n3. Adhar card
\n4. Passport<\/p>\n2. HUF (Hindu Undivided Family)<\/h4>\n
\n2. DOB identification of the member
\n3. Address proof of the members<\/p>\n3. Companies<\/h4>\n
4. Trust<\/h4>\n
\n2. Registered certificate number (issued by trust and charity commissioner)<\/p>\n5. Society<\/h4>\n
6. Foreigners<\/h4>\n
\n2. Passport
\n3. Bank statement of NRE account in India<\/p>\nImportance of PAN Card<\/h3>\n