What is the Full Form of PAN ?
PAN - Permanent Account Number
Permanent Account Number is unique ten-digit alphanumeric combination issued by the Income Tax Department in India, in form of a Card, under the Indian Income Tax Act 1961. It is also mandatory to quote PAN in many documents pertaining to financial transactions.
These transactions may include :-
- For opening a bank account
- For buying/selling shares and mutual funds
- For buying/selling property
- For filling an income tax return
- For getting a loan
- When you get a job and more
Format of a PAN Card
Permanent Account Number has the following format :
The First five letters are alphabets, next 4 numerals, the last letter is again an alphabets
A typical PAN Card Number could be :FCDJH2365K