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Thursday, 8 October 2015

Know Your PAN - A Complete Guide to Know everything about PAN Card And PAN No.


The Government has made one provision online to get information on new or existing PAN Card by the name of “Know Your PAN”. The link is as follows- https://incometaxindiaefiling.gov.in/e-Filing/Services/KnowYourPanLink.html

You can easily enter your name and date of birth to get your details. However, the name and date of birth must be same as given while making of your PAN Card. Also, you need to enter one special code which is given at that page to get the details of your card. Since the PAN Card is linked with all the Tax Calculations; this page has a provision of calculating your tax.

Thus, the introduction PAN Card provides a way to government to prevent evasion from Tax and also to control all the financial transaction. Verification of PAN Cad is very crucial. If PAN Card verification fails, it can question your identity. Also, it is a legal offence. The government has imposed various fines if the PAN Card is not authentic.



PAN Card- It's Elements, Structure and Component

Physical Appearance


 
If you have not seen any PAN Card, then you can imagine a plastic debit or credit card. The PAN Card is a plastic card that has a picture of the card holder, date of the issue and date of birth. Additionally , it also has a hologram sticker for security reasons.The PAN card does not have the card holder's address.
Earlier PAN card used to be black and white in colour; it is after the year 2001, the government has made it a better looking a card with a good quality photo on the it.

Structure- Data Contain and Layout

The New Series of PAN card is based on some permanent and constant components of the tax payer. And uses algorithm which is based on phonetic sounds of these constant parameters.
i. The Full name of the taxpayer;

ii. Date of birth

iii. Status

iv. Gender in case of individuals

v. Father’s name in case of individuals
*In case of married women, also the father's name is used.


Components- Pan Number Structure and Meaning

 
Now, The PAN card series is allotted by a centralized and a customized software named as AIS or the IPAN. There is an automatic generation of PAN card by the system by using the information of above five  permanent fields.
The PAN card follows the following structure
  • A Alphabetical series running from AAA to ZZZ
  • A Alphabetical series running from AAA to ZZZ
  • A Alphabetical series running from AAA to ZZZ
  • P Status
  • S First character of the last name or the surname
  • 1 Sequential Number running from 0001 to 9999
  • 2 Sequential Number running from 0001 to 9999
  • 3Sequential Number running from 0001 to 9999
  • 4Sequential Number running from 0001 to 9999
  • A Sequential Number running from 0001 to 9999

The fourth letter , which is represents the status depends on following points,

‘C’  denotes Company

 ‘P’ denotes Person

 ‘H’ denotes HUF

 ‘F’ denotes  Firm

 ‘A’ denotes AOP

 ‘T’ denotes Trust

 ‘B’ denotes body of association

 ‘L’ denotes local authority

 ‘J’ denotes artificial jurisdiction

 ‘G’ denotes Government

Knowing Your PAN is always a good idea. PAN card is a very crucial document and going ahead its importance  will increase.




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