Know Your PAN
Map and co 16th April 2020 18Category: Finance. ()
CA Manish Kumar Sinha

WE all have PAN card, PAN is require for all person and its quoted at following transaction

Filing of ITR

Opening of Bank Accounts

Purchase of any assets (Movable or Immovable)

Purchase anything more than Rs 50,000 in cash

Quote PAN in all financial transaction like loan paper , Insurance paper etc.

Had we tried to know about what is meaning of 10 digit used in PAN card.

Example: Mr X has PAN and its number is ABCPJ1234Z

Fourth digit of pan defined status of holder of PAN. As in above mention PAN 4th digit is P. P denote person (Male or Female)

So we can know any PAN we help of its fourth digit

P – Person

H – Hindu Undivided Family

C- Company (Private or Limited)

F – FIrm

L- LLP

A- Association of person

T- Trust etc

For more details watch Youtube link

https://www.youtube.com/watch?v=yPi8AIItdBw&t=8s

 

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