The Permanent Account Number (PAN) is a unique 10-character alphanumeric identifier issued by the Income Tax Department of India. It serves as a universal identification key for all financial transactions and tax-related matters.
Structure of PAN
Example: ABCDE1234F
| Position | Characters | Meaning |
|---|---|---|
| 1-3 | ABC | Alphabetic series (random) |
| 4 | D | Status of holder (P=Individual, C=Company, H=HUF, F=Firm, etc.) |
| 5 | E | First letter of surname/name |
| 6-9 | 1234 | Sequential number |
| 10 | F | Check digit (alphabetic) |
4th Character Codes
- P: Individual/Person
- C: Company
- H: Hindu Undivided Family (HUF)
- F: Firm (Partnership)
- A: Association of Persons (AOP)
- T: Trust
- L: Local Authority
- J: Artificial Juridical Person
- G: Government
Mandatory PAN Transactions
- Sale/purchase of immovable property above Rs. 10 lakhs
- Sale/purchase of vehicle (other than two-wheelers)
- Bank account opening
- Cash deposit above Rs. 50,000
- Fixed deposits above Rs. 50,000
- Mutual fund investments above Rs. 50,000
- Demat account opening
- Foreign travel exceeding Rs. 50,000
PAN-Aadhaar Linking
Linking PAN with Aadhaar is mandatory. Failure to link results in PAN becoming inoperative.
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