Know Your PAN | PAN Card Status | PAN Card Details | Track Your PAN
We can feel the speed at which market is moving on and on. So much of income is divided amongst different entities such as individual, corporate, firms, trusts, etc. Government has to collect tax on such income. But it is not possible to collect such tax on the basis of name of the entity because there might exist lot of entities with the same name. So as a solution to this problem government of India along with the efforts of Indian Income Tax Department introduced Permanent Account Number i.e. PANfor every entity. It is issued under section 139A if the Income Tax Act. It is also used as an identity proof and is acceptable nationwide. It remains unchanged even if any other details of an entity changes. It is a unique number i.e. more than one entity will never have same number.
PAN is an alphanumeric combination of ten digits. While PAN Card is a laminated card bearing the information of entities along with PAN. The 10 Alphanumeric digits are allotted in the following manner as a Permanent Account Number:
The First Five Characters are letters, the next four are number and the last character again is a character. They are decided in the following manner:
· First Three letters are can be any letters from AAA to ZZZ.
· The Fourth letter is the initial alphabet of the type of entity. Such as:
‘P’ for Person
‘H’ for HUF
‘A’ for Association of Person
’T’ for Trust
‘B’ for Body of Individuals
‘L’ for Local Authority
‘J’ for Artificial Judicial Person
‘C’ for Company
‘G’ for Government
· The Fifth letter is the initial character of:
o Surname or Last Name in case of a person and
o Name of Entity in any other case.
· The next characters from 6th to 9thare numbers. It can be any number ranging from 0001 to 9999.
nbsp;The 10th character is an alphabet. It can be any alphabet and considered as check digit.
v Details shown on PAN Card:
o Name of the Entity
o Birth Date or Date of Incorporation or Date of Registration of an entity
o Issue date of PAN Card
o Permanent Account Number
o Photograph of a person
v Back side of PAN Card:
Back side of all the PAN cards is same. The details regarding returning lost PAN Card are given on the back side of the PAN Card.
v Contravention of section 139A:
If it is found that any entity holds and uses more than 1 PAN Card, than the penalty to be borne is Rs. 10,000 under section 272B of the Act.