The full form of PAN is Permanent Account Number. PAN card is a ten digit alphanumeric character issued through the Income Tax Department. PAN contains both numeric and alphabetic digits. The PAN card comes in a physical form in which a specific PAN number is assigned, including the name of the organization, date of birth and photograph, which can also be provided as proof of identification and for several other regulatory norms.
PAN card format
The PAN card format contains information about a person such as name, date of birth (DOB), in compliance with KYC regulations. The PAN card provides the following information:
- The name of the individual
- Applicant's father's name
- Applicant's date of birth. Date of registration with the competent authority in the case of non-natural persons.
- The PAN card is issued as AAAPL1234C. In the PAN format, the first four characters are English characters, the next four are English numbers, and the last is a letter again.
Different types of PAN
Below are the different types of PAN cards.
- Individual
- HUF – Hindu Undivided Family
- Trust
- Company or Corporation
- Artificial Judicial Person
- Minor
- Society
- AOP – Association of person
- Firm or Limited Liability Partnerships
Necessary documents for PAN Card
The documents are specifically needed for two main purposes, to provide proof of identity and proof of address. Below are the basic documents required for PAN numbers depending on the PAN form they are applying for.
- Individuals
The required documents are
- Voter card
- Driving license
- Adhar card
- Passport
- HUF (Hindu Undivided Family)
The required documents are
- Affidavit of Hindu Undivided Family on behalf of members including member's DOB identification and address proof of members.
- Company registration certificate issued by the registry.
- Trust
Trust deed and registered certificate number issued by the trustee of the trust and charity.
- Society
Registered number of the certificate issued by the commissioner of the cooperative.
- Foreigners
Bank statement of country of residence, passport and NRE account statement in India.
Importance
- The PAN number is required to prove identity and file a tax return.
- PAN number is required for banking purposes like opening an account, getting a loan or credit card etc.
- PAN is a necessary document for sale or purchase of real estate worth more than five million.
- PAN number is required while buying or selling cars etc.