Structured Biiz

Permanent account number

Permanent Account Number (PAN) is a 10 digit alpha-numeric code issued by the Indian Income Tax Department. PAN is unique for all taxpayers. It enables the Income tax Department to link financial transactions to a particular taxpayer / assessee. It also facilitates the Income tax Department to retrieve information of taxpayers such as various investments, borrowings and other business activities. As per the current regulations for individuals, PAN is mandatorily required to be linked with an Aadhar card.

Who needs PAN?

Financial transactions where quoting of PAN is mandatory

Consequences of non-quoting of PAN

If a person fails to comply with the requirement of quoting PAN or furnishes the incorrect PAN, then the Assessing Officer may levy a penalty of Rs 10,000.

How are they structured?

The 10 characters of PAN are formed as follows:

The first three characters are random series of alphabets (i.e. anything from AAA to ZZZ);

The fourth character represents the status of the holder wherein –

The fifth character of PAN represents the first alphabet of the PAN holder’s last name / surname in case of an individual. In case of non-individual PAN holders, the fifth character represents the first alphabet of PAN holder’s name;

The next four characters are a random sequence of numbers running from 0001 to 9999; and

Last character, i.e., the tenth character is an alphabetic check digit.

Permanent Account Number Registration Service

Permanent Account Number - Individual - Rs. 999/-

Permanent Account Number - Firms / LLPs / Corporates - Rs. 1,599/-

Inclusive of Govt. Fees & GST