The Permanent Account Number is a 10-character alpha-numeric unique identifier that acts as an identification issued to all judicial entities by the Indian income tax department under Indian Income Tax Act,1961.
It is not acceptable as an Indian citizenship proof because it is issued to Indian and foreign as well. This number is used by Banks, Credit Rating and Govt Agencies for financial verification.
One can easily analyse information of the individual such as Age proof, Identification and KYC guidance with PAN Card. The validity of the PAN Card is a lifetime. Proof of Address (POA) and Proof of Identity (POI) are the documents required for the PAN Card.
Objects found in PAN Card
b) Cardholder name i.e. Company/Individual
c) Father's Name
d) Date of birth of an individual or registration date of the particular firm or company.
e) Signature of the cardholder
f) 10 digit alphanumerical number
Structure of Alphanumeric Number:
10 digit alphanumeric number contains collection of number as well as alphabets, in which first three letter series are totally alphabetic i.e. three alphabets from English consonants i.e. A-Z, fourth letter for representing taxpayer's categories such as local authority, body of individuals, firms, company, governments etc., Fifth letter represent sir name and the remaining characters are random in which first four belongs to number, whereas the last is alphabet.
Different Types of PAN Card:
3) HUF- Hindu Undivided Family
What are the applications of PAN Card:
Pan card acts as a mandatory document for the following tasks:
a) Identity proof
b) Address proof
c) Gas connection
d) For opening bank accounts
e) Business registration
f) Financial transaction
g) For applying sim connection
What is the process required to make a PAN card?
One can effortlessly apply for pan card online. Only need to go through the official websites of NSDL/UTIITSL and to do some tasks that are given below:
a) Fill the form 49A / 49AA with accurate details.
b) Submit required documents and its processing fee.
c) Within 15 days, the PAN card will be dispatched.
You can also make modification on the existing pan card through the same mentioned above websites.