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Home / News / Business News / #FinancialBytes: 5 lesser-known facts about PAN card everyone should know
  • Business

    #FinancialBytes: 5 lesser-known facts about PAN card everyone should know

    Ramya Patelkhana
    Written by
    Ramya Patelkhana
    Mail
    Last updated on Mar 13, 2019, 12:25 am
    #FinancialBytes: 5 lesser-known facts about PAN card everyone should know
  • The Permanent Account Number (PAN) card has become one of the most essential documents to have.

    Issued by the Income Tax Department, PAN consists of a 10-character alphanumeric number and serves as an identity proof. Nowadays, PAN is necessary for all major financial transactions.

    While everyone does know a few things about it, here are some lesser-known, interesting facts to know about PAN card.

  • In this article
    Anyone can apply for PAN, including minors and foreigners #2: Applicants can get their PAN allotted quickly (Tatkal) Furnishing father's name in PAN application not mandatory The 10-digit alphanumeric PAN reveals cardholder's information #5: Cardholders can know their PAN issue date
  • #1

    Anyone can apply for PAN, including minors and foreigners

    Anyone can apply for PAN, including minors and foreigners
  • There is no minimum or maximum age requirement to apply for PAN card allotment. It can be issued to all citizens; even minors can get a PAN card provided they furnish the required documents.

    A PAN card can be issued to an NRI, a foreigner, or a foreign company, too, if they intend to enter into a financial transaction in India.

  • Information

    #2: Applicants can get their PAN allotted quickly (Tatkal)

  • Those applying for a PAN can also get it allotted on a priority basis. All they have to do is submit their PAN allotment application online (on NSDL or UTIITSL website) and pay the processing fee for the PAN card through a nominated credit card.

  • #3

    Furnishing father's name in PAN application not mandatory

    Furnishing father's name in PAN application not mandatory
  • Earlier, applicants were required to furnish father's name in PAN application form which was also printed on the PAN card.

    However, as per a new rule which came into effect on 5 Dec'18, applicants can now choose whether they want the name of their father or mother on the card.

    If the applicant's mother is a single parent, furnishing father's name isn't mandatory.

  • #4

    The 10-digit alphanumeric PAN reveals cardholder's information

    The 10-digit alphanumeric PAN reveals cardholder's information
  • The 10-character unique alphanumeric PAN has alphabets as the first five characters, followed by four numerical digits and an alphabet.

    The fourth character of PAN reveals the cardholder's status: P for a person, C for companies, F for firms, A for associations, T for trusts and so on.

    Meanwhile, the fifth character of a PAN represents the first letter of the cardholder's surname.

  • Information

    #5: Cardholders can know their PAN issue date

  • PAN card holders can easily know their PAN issue date too; the vertical digits printed on the lower-right side of a card, next to the cardholder's photo reveal the date (in DDMMYYY format) on which that particular PAN was issued by the Income Tax Department.

  • India
  • Income Tax Department
  •  
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