CURRENT AFFAIRS

Detailed explanation-1: -PAN is a ten-digit unique alphanumeric number issued by the Income Tax Department. PAN is issued in the form of a laminated plastic card (commonly known as PAN card). Last character, i.e., the tenth character is an alphabetic check digit.

Detailed explanation-2: -PAN is a 10 digit unique alphanumeric number issued by the Income Tax Department under the Indian Income Tax Act 1961. The first three characters are normal letters starting from AAA to ZZZ. The Department of I.T allocates the digits randomly which is a combination of the letters like AZT or ZRT.

Detailed explanation-3: -PAN has a typical format of ABCTY1234D. The first three characters, i.e. ‘ABC’ in the above number is an alphabetic series ranging between AAA and ZZZ. The 4th character, i.e. ‘T’, represents the PAN holder’s status. The alphabet ‘T’ represents Trust, ‘F’ for Firm, ‘H’ for HUF, ‘P’ for Individual, ‘C’ for Company etc.

Detailed explanation-4: -4th Character: The fourth character of PAN represents the status of the PAN holder (E.g. ALWPG5809L). “A” stands for Association of Persons (AoP) “B” stands for Body of Individuals (BOI) “C” stands for Company. “F” stands for Firm/Limited Liability Partnership.

Detailed explanation-5: -Fifth character of PAN represents the first character of the PAN holder’s last name/surname in case of an individual. In case of non-individual PAN holders fifth character represents the first character of PAN holder’s name. Last character, i.e., the tenth character is an alphabetic check digit.