By Jasreet Kaur25, Sep 2024 08:00 AMjagranjosh.com
Do you know?
A PAN is a unique tax ID in India. The letters in the code identify the cardholder type, ensuring uniqueness and easy identification. Tap to read why are alphabets written in front of PAN number.
What is PAN?
PAN (Permanent Account Number) is a unique identification number assigned to taxpayers in India to track financial transactions.
Alphabet's Role
The first three letters of PAN are random alphabets, the fourth letter represents the type of taxpayer (Individual, Company, Firm, etc.).
Type Representation
Each entity type has a specific letter code: 'P' for individuals, 'C' for companies, 'H' for Hindu Undivided Families (HUF), and 'A' for associations of persons.
Identification
The use of alphabets helps prevent duplication of similar numerical sequences and enhances the security of the identification system.
Fifth Alphabet
The fifth character represents the first letter of the PAN holder’s last name or surname, making it easier to track individual cardholders.
Number Sequence
After the alphabet characters, a series of digits follow, which are randomly assigned, ensuring unique identification.
Anupam Kher’s Impressive Education And Career Journey