PAN card is currently the main instrument for financial transactions. PAN is used as an ID card. If you work in organized sector then it is necessary to have PAN card to get salary. It is a 10 digit alphanumeric number that everyone wants to understand. You will also have a PAN card, in which the Permanent Account Number will be written just below the date of birth. Explain that these alphanumeric numbers entered on the PAN card have a special meaning and some kind of information is hidden in them.
An alphanumeric number is written just below the date of birth written in the PAN card. PAN begins with some English letters, written in capital letters.
According to the Income Tax Department, the first three digits of any PAN represent English alphabetic series. This alphabet series can contain any three-letter series in English ranging from AAA to ZZZ. It is decided by the Income Tax Department.
The fourth letter of the PAN shows the status of the income tax payer. For example, if there is a P in the fourth place, then it shows that this PAN number is personal i.e. it belongs to any one person.
F shows that the number belongs to a firm.
Similarly from C, the company reveals the association of AOP, T to TREST, H to undivided Hindu family, B to Body of Individuals, L to Local, J to Artificial Judicial Person, G to Government.
The fifth digit of the PAN is an English letter. It shows the first letter of the surname of the pan card holder. For example, if someone’s surname is Kumar or Khurana, the fifth digit of the PAN will be K.
The first letter of the surname is followed by four digits. These numbers can be any four digits between 00001 to 9999. These numbers show the series of income tax department which are running at that time.
The 10th digit of the PAN card is also an English letter. According to the Income Tax Department, it could be an alphabet check digit. It can be any letter between A to Z.