Friends, If you have PAN Card (Permanent Account No.) for Income Tax purpose so know about your Pan Card Structure.
The Structure of the new series of PAN : The Permanent Account Number under new series is based on following constant permanent parameters of a taxpayer and uses Phonetic Soundex code algorithm to ensure uniqueness :-
i. Full name of the taxpayer;
ii. Date of birth / Date of Incorporation;
iii. Status;
iv. Gender in case of individuals; and
v. Father’s name in case of individuals (including in the cases of married ladies)
These five fields are called core fields, without which PAN cannot be allotted.
The PAN under the new series is allotted centrally by a customized application system (IPAN / AIS) for all-India uniqueness. The system automatically generates a 10 character PAN using the information in above five core fields. PAN has the following structure:-
Structure of PAN
The fourth character of the PAN must be one of the following, depending on the type of assessee:
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 Juridical 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 Personal Pan card, where the fourth character is "P" or (b) of the name of the Entity/ Trust/ Society/ Organization in the case of Company/ HUF/ Firm/ AOP/ BOI/ Local Authority/ Artificial Juridical Person/ Government, where the fourth character is "C","H","F","A","T","B","L","J","G".
Know Pan By Name
The phonetic PAN (PPAN) is a new concept which helps prevent allotment of more than one PAN to assessees with same / similar names. AIS works out the PPAN based on some important key fields of an assessee using an internal algorithm. At the time of PAN allotment, the PPAN of the assessee is compared with the PPANs of all the assessees to whom PAN has been allotted all over the nation. If a matching PPAN is detected, a warning is given to the user and a duplicate PPAN report is generated. In such cases, a new PAN can only be allotted if the Assessing Officer chooses to override the duplicate PPAN detection.
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