Explanation of PAN

Hello Friends,

My this blog is related to tell you about the complete explanation of PAN. 

      

        PAN=Permanent Account Number


Now you have seen that PAN card is mainly used in all financial transactions. In addition it also acts as an ID card. If you work in the organized sector, it is necessary to have a PAN card to get salary. 

PAN (Permanent Account Number) is a 10 digit alphanumeric number and these alphanumeric numbers entered on the PAN card have a special meaning and some kind of information is hidden in them.

In Alphanumeric, Alpha means English Letters (A to Z) and Numeric means Numbers (0 to 9).

Take your PAN card in hand to understand the PAN numbers. 

The PAN begins with some letters in English, written in capital letters.

Let us know how to get an important information about you from your PAN card:

  • The first three digits of any PAN show the English alphabetical series, according to the Income Tax Department. This alphabetical series can be any three letter series from AAA to ZZZ. It is decided by the income tax department.
  • The fourth letter of PAN shows the status of the income tax payer. For example, if P is in the fourth place, then it shows that this PAN number is personal, i.e. it belongs to a single person. Whereas, F shows that the number belongs to a firm. Similarly, Company from C, Association of Person from A, Trust from T, Undivided Hindu Family from H, Body of Individual from B, Local from L, Artificial Judicial Person from J, Government from G.
  • The fifth digit of PAN is also a letter of English. It shows the first letter of the surname of the PAN card holder. For example, if one's surname is Sharma or Suri, then the fifth digit of the PAN will be S.
  • The first letter of the surname is followed by four digits. These numbers can be any four digits between 0000 to 9999. These numbers show the series of income tax department, which are running at that time.
  • The 10th digit of PAN card is also a letter of English. It could be an alphabet check digit, according to the Income Tax Department. It can be any letter between A to Z.
I hope it will be helpful to you.

Thanks and Regards

Kulvinder Kaur
B.Com(H), MBA(Finance)
9871580806,8826566751
rightsteptoinvest@gmail.com

Comments

Post a Comment

Popular posts from this blog

AN INITIATIVE TO TAKE A RIGHT STEP

Image
Hello Friends,  This is my first post and need your support to grow.  I am working as a Financial Advisor  and Tax Consultant.   I would like to suggests you that just take   A Right Step: To Save  To Plan  To Invest To make your money grow  and this will help you To move a right step about your financial planning and growth .  Thanks & Regards Kulvinder   Kaur B.COM(H), MBA(Finance) 9871580806,8826566751 rightsteptoinvest@gmail.com
Read more

IMPORTANCE OF BUDGET

Image
Hello Friends, My this blog is related to tell you about the Importance of Budget.  "Budget is a plan in which you decide how to spend money  systematically." Let's take a simple example and starts from your home: Rahul is a married man with two kids earns Rs. 35,000 in a month and get on the 10th of a month and starts spending it in various expenses like bring a ration, pay for school fees, buying vegetables, buy some clothes, pay some medical expenses etc. and at the 25th of the month he already spend Rs. 28,000 and only Rs. 7,000 left with him without any savings for rest of the month and then he worried that how to spend for rest of the month.  Ramesh is a married man with two kids earns Rs. 35,000 in a month and gets his salary on the 10th of a month and makes a budget and spend accordingly and at the end of the month he has left some money as a savings which he uses as an investment as well as for emergency.  In the second examp...
Read more

HAPPY NEW YEAR 2020

Image
Hello Friends , Happy New Year 2020.  Happy New Year is a word which means a coming year will be happy for all of us and gives all the happiness and good wishes for all that our dreams come true.  Yes, So I will give you a secret mantra for all the successful years ahead which makes you happy in all years ahead of your life.  Just take a Right Step: To secure your income. To secure your Life. To secure your loved ones.  To secure your Present as well as Future. Thanks and Regards Kulvinder Kaur
Read more