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What is PAN Card ?
Permanent Account Number (PAN) is unique alphanumeric combination issued to all juristic entities identifiable under the Indian Income Tax Act 1961. It is issued by the Indian Income Tax Department under the supervision of the Central Board for Direct Taxes (CBDT) and is almost equivalent to a national identification number. It also serves as an important ID proof. This number is almost mandatory for financial transactions such as opening a bank account, receiving taxable salary or professional fees, sale or purchase of assets above specified limits. The primary purpose of PAN is to bring a universal identification key factor for all financial transactions and indirectly prevent tax evasion by keeping a track of monetary transactions of high net worth individuals. The PAN is unique, national, and permanent. It is unaffected by a change of address, even between states. Structure and validation.

PAN structure is as follows: AAAAA9999A: First five characters are letters, next 4 numerals, last character letter. The first three letters are sequence of alphabets from AAA to zzz The fourth character informs about the type of holder of the Card.Each assesse is uniquely C — Company P — Person H — HUF(Hindu Undivided Family) F — Firm A — Association of Persons (AOP) T — AOP (Trust) B — Body of Individuals (BOI) L — Local Authority J — Artificial Judicial Person G — Government

The fifth character of the PAN is the first character (a) of the surname / last name of the person, in the case of a "Personal" PAN card, where the fourth character is "P" or (b) of the name of the Entity/ Trust/ Society/ Organisation in the case of Company/ HUF/ Firm/ AOP/ BOI/ Local Authority/ Artificial Jurdical Person/ Govt, where the fourth character is "C","H","F","A","T","B","L","J","G". The last character is a alphabetic check digit. Nowadays, the DOI (Date of Issue) of PAN card is mentioned at the right (vertical) hand side of the photo on the PAN card. The central government has introduced a new online service called "Know Your PAN" to verify or validate new and existing PAN numbers, which can be done by visiting this website.