Permanent account number or popularly known as PAN is the unique identification given to Indian citizens who pay income tax. PAN card is issued by Income Tax Department of India under the guidance of Central board of direct taxes (CBDT). PAN number is a 10 character alpha-numeric number, for example : AAAPA9876A would be the PAN number, it is issued to all the judicial entities to indefinable under the Income Tax Act 1961 and it is also used as a proof of Identity. PAN card is not only issued to Indian citizens but it is also issued to other nationals under proper VISA and other norms, but it is not accepted as the proof for IC. The PAN card once issued is valid up to its life time, PAN card is not effected even if there is a change in Address of the card holder. The major purpose of PAN card is to universally identify all the financial transactions and to prevent tax evasion by keeping track of commercial transactions, PAN card is beneficiary when there are people who make high end transactions who can affect the economy.
Structure of PAN Number
PAN card consists of 10 alpha-numeric characters, in which the first five characters are alphabet followed by four numerical and last a single character alphabet. The first three alphabet of PAN card number are the sequence of alphabetic series starting from AAA to ZZZ and the fourth letter of the number notifies about the type of the card holder, these are categorized as below
A — (AOP) Association of Persons
B — (BOI) Body of Individuals
C — Company
F — Firm
G — Government
H — (Hindu Undivided Family) HUF
L — Local Authority
J — Artificial Juridical Person
P — Individual
T — AOP (Trust)
K — Krish (Trust krish)
The fourth character or alphabet in the PAN Card number is P, in case of personal PAN Card and in case of the Trust, Entity, organization or society in the case of Company/ AOP / Firm/ HUF / BOI/ Govt / Artificial Judicial Person/ Local Authority the fourth character is “C”,”A”,”F”,”H”,”B”,”G”,”L”,”B”,”T” .
The fifth character or alphabet in the PAN Card refers to the first character of
- The persons surname or last name, this is in the case of a personal PAN Card.
- the name of the Trust, Entity, organization or society in the case of Company/ AOP / Firm/ HUF / BOI/ Govt / Artificial Judicial Person/ Local Authority.
And the last character in the number is check digit, in recent card issues, PAN card is coming with a DOI i.e. Date of Issue on the right vertical side of the card when issued by NSDL and when issued by UTI-TSL there are no such DOI printed on the card.
How to Apply for New Pan Card allotment or apply for lost card/changes in card
To apply for a new PAN card, the applicants must a address proof, date of birth proof and other identify proof that they are Indian citizens
- For new allotments of PAN card, applicants can go online and visit the following URL: https://tin.tin.nsdl.com/pan/newpan.html to fill the new application form FORM : 49A, for Indian citizens or Visit the URL : https://tin.tin.nsdl.com/pan/newpanforeign.html to fill FORM : 49AA by foreign citizens.
- For changes in PAN card or lost card visit the URL : https://tin.tin.nsdl.com/pan/changerequest.html and follow the steps to make any changes to the card.
Track your Pan Card status
Applicants can track their PAN card application status online after 3 days of submitting their application, when they have applied through NSDL only. Applicants can track their PAN by visiting the URL : https://tin.tin.nsdl.com/pantan/StatusTrack.html .
Here you need to enter the unique acknowledgment number provided to you at the time of application submission or you can track using your name and date of birth as mentioned in the application.
When you have applied through UTI-ITSL you can track your PAN card application by visiting the URL : https://www.myutiitsl.com/PAN_ONLINE/trackApp , here you need to enter the unique application coupon number provided to you at the time of application submission.
Uses of Know Your PAN Card
PAN is mandatory when you are filing Income tax deduction at source, any other work related to Income Tax Department and Tax returns. PAN Card has become a mandatory proof for starting a firm or bank account, Mobile Number or Land line connection , purchasing good of over 1lakh, a mobile phone SIM card, bank deposits above Rs. 49,999/-, purchasing of vehicles, purchasing real estate properties etc.
PAN Card is also mandatory in transactions related to
1.Purchase and sale of property registrtions at four lakhs and more
2. Purchase and sale of a four Wheeler vehicle
3. Paying bills to hotels and restaurants exceeding an amount Rs 24,999.
4. Paying of cash when traveling to a foreign country if amount exceeds more than RS. 49,999
5. Payment of cash to any company or institution where the amount exceeds more than RS. 49,999 for acquiring bonds or debentures
6. Payment of cash for buying or selling shares which exceeds RS. 49,999 or more
7. Payment towards any mutual fund.
8. Payment towards jewelry and bullying, when the amount exceeds RS. 49,999.
That’s all the information about Tracking Your PAN Card Status, What is PAN Card, Structure of PAN Card, Uses of know your PAN Card and many other details related to PAN card. Please do share and like if you like the post and found it useful. Feel free to comment your views and queries related to PAN card Tracking.