PAN Full Form | What is the Full Form of PAN? PAN Meaning

What is the full form of PAN?

PAN: Permanent Account Number

PAN related questions: PAN Full Form, What is the full form of PAN, What does PAN No. stand for, What is the meaning of PAN, PAN full Form in English.

PAN stands for “Permanent Account Number”. The card is containing the unique ten-digit alphanumeric combination issued by the income tax department of India.

The card is issued by the income tax department of India, under the section of the 139A of the Indian income tax Act 1961.

Format of a Pan Card

The ten digits will be in the following format

  1. AAAPL1234C

The first five characters are letters, the next four are numerals and the last character is also the letter.

The fourth character specifies the holder of the card. Each holder is uniquely defined as below:

  • A – Association of Persons (AOP)
  • B – Body of Individuals (BOI)
  • C – Company
  • F – Firm
  • G – Government
  • H – HUF (Hindu Undivided Family)
  • L – Local Authority
  • J – Artificial Judicial Person
  • P – Individual
  • T – AOP (Trust)

The fifth character shows on the PAN card is the first character of the surname or last name of the person in the case of a “Personal” PAN card, where the fourth character is “P” or of the name of the Entity, Trust, society, or organization in the case of Company/ HUF/ Firm/ AOP/ BOI/ Local Authority/ Artificial Judicial Person/ Government, where the fourth character is “C”,”H”,”F”,”A”,”T”,”B”,”L”,”J”,”G”.

PAN – Overview

pan-full-form

 

Name Of Authority issuing PAN Income Tax Department, Govt. of India
PAN Customer Care Number 020 – 27218080
Inception of PAN Card 1972
Validity Of PAN Card Life Time
Cost of PAN Card Rs. 110
Number Of Enrolments 25 crore (approximate)

Eligibility for PAN Card

The PAN card is issued to the individual, companies, non-residents Indians or anyone who pays taxes in India

Types of PAN

  1. Individual
  2. HUF-Hindu undivided family
  3. Company
  4. Firms/Partnerships
  5. Trusts
  6. Society
  7. Foreigners

Documents required for PAN Card

PAN requires two types of documents. Proof of address (POA) and Proof of Identity (POI). Any two of the following documents should meet the criteria

Individual Applicant POI/ POA- Aadhaar, Passport, Voter ID, Driving Licence
Hindu Undivided Family An affidavit of the HUF issued by the head of HUF along with POI/POA details
Company registered in India Certificate of Registration issued by Registrar of Companies
Firms/ Partnership (LLP) Certificate of Registration issued by the Registrar of Firms/ Limited Liability Partnerships and Partnership Deed.
Trust Copy of Trust Deed or a copy of the Certificate of Registration Number issued by a Charity Commissioner.
Society Certificate of Registration Number from Registrar of Co-operative Society or Charity Commissioner
Foreigners
  • Passport
  • PIO/ OCI card issued by the Indian Government
  • Bank statement of the residential country
  • Copy of NRE bank statement in India

Why do you need PAN No.?

PAN is a unique identification number that enables each tax-paying entity of India with the following:

  • Proof of Identity
  • Proof of Address
  • Mandatory for Filing Taxes
  • Registration of Business
  • Financial transactions
  • Eligibility to open and operate Bank Accounts
  • Phone Connection
  • Gas Connection
  • Mutual Fund – PAN is beneficial to complete e-KYC for mutual fund investments.

How to Enroll for PAN

Whether Online or Offline, you can enroll for PAN in 3 simple steps

  • You are required Visit the official PAN website that is NSDL/UTIITSL website
  • Fill the form with details
  • Submit the requiring documents
  • Pay the processing fees
  • PAN will be dispatched within 15 days of the request generated.

Final Words

Dear Readers

Hope you find some useful information on PANWhat is the full form of PAN?

Also, if you have a query regarding PAN Full Form, kindly approach us via the comment section stated below for the reference.

Thank you and have a great day ahead.

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