PAN is an acronym for Permanent Account Number. Individuals for their identification, more so, use it if they pay tax.
The Structure of the PAN card number
- The PAN card number is a ten digit alphanumeric code. The structure of the Pan card application form details number is:
- First five characters- letters
- Next four characters- numbers
- Last character- letter
- Initial three letters occur in the sequence of alphabets ranging anywhere between AA to ZZZ.
- The forth letter signifies the account holder’s type.
|The Letter||Account Holder’s Type|
|H||Hindu Undivided Family (HUF)|
|A||AOP or Association of Persons|
|J||Artificial Judiciary Person|
|B||Body of Individuals or BOI|
- Fifth character is either the first character of the last name of the individual or that of the name of the organization.
- The last character is always the check digit.
You Cannot Hold Two PAN cards
PAN number is always permanent. In case of loss or theft, the old PAN card is always redeemed. If any citizen holds two PAN card numbers, it is stated to be a punishable crime under Income Tax Act with a penalty of 10000 INR. If you have two PAN cards, we suggest you to surrender the second PAN card immediately click here more information. We are guessing here that you have used the older card to file Income Tax returns.
What to do if you suspect theft
Often, theft or loss of the PAN card, it generally does not lead to any mishaps unless and until they get hold of your details like address proof. However, in case of loss or theft, one must immediately file an FIR to avoid ineluctable circumstances.
These three pieces of information are important and come handy multiple times throughout your life.