Today, PAN cards are required everywhere, from companies to government schemes. Like Aadhaar cards, PAN cards are now becoming mandatory everywhere. For income-related work or financial transactions, PAN cards are essential. Like Aadhaar cards, PAN cards also contain a 10-digit unique ID. This unique ID contains a wealth of information about you. Let's explore this information one by one.

What is the meaning of a PAN number?
The unique ID on a PAN card provides a wealth of information about you. These are as follows:

The first three digits in a PAN number are letters. They can range from AAA to ZZZ.

The fourth character indicates the tax category the cardholder falls under. For example, if the cardholder is an individual, it is represented by the letter P. A company is represented by the letter C.

The fifth character is the first letter of your surname. For example, if the surname is Sharma, the 5th digit will be written as S. Subsequent digits are determined by the Income Tax Department.

How many categories of PAN cards are there?
PAN cards are different for companies, individuals, and foreign nationals. If an Indian citizen wants to make a PAN card, they must fill out Form 49A. Furthermore, if a foreign citizen wants to make a PAN card, they must fill out Form 49AA.

PAN cards are used for various purposes, including filing ITR, applying for schemes, opening bank accounts, and more. Furthermore, if you are receiving financial benefits from any government scheme, you also need a PAN card.

Even if you are receiving a subscription from the government, you still need a PAN card.

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