If you have a bank account, then it is obvious that you must have heard about PAN card. And it cannot happen that you are using the internet and you do not have a bank account. Although the PAN card is directly related to the tax department, but we can use the PAN card as an ID as well. What is Pan card?
what is pan card
The full form of PAN is Permanent Account Number, PAN card is a Government Document. Which is issued by the income tax department, PAN card is used for various types of financial transactions. It is suggested by all banks to their customers that they must link their PAN card to their account.
But after crossing a limited transaction limit, banks temporarily freeze that account, and recommend PAN KYC. If you want to do international transaction then you should have PAN card link in your bank account. Then it does not matter whether the transaction is of small amount or Star amount.
And as far as getting a PAN card is concerned, you have two options for this. One is to apply for pan card by yourself, make payment and submit print out to nearest nsdl office. Perhaps this process can be difficult for everyone and you may also make mistakes in it.
But the second way is absolutely perfect and that is to apply through any csc (Common Service Center (jan suvidha kendra)). For which maybe you will have to pay 50 – 100 inr to the shopkeeper in addition to the payment of PAN. Because he will apply for your PAN and submit the documents, so there is no problem in paying this extra charge.
As you have read above, the full form of PAN means permanent account number, which means in Hindi. Permanent Account Number and a person can have only one PAN card.
The most important thing about PAN card is its number because your PAN card is based on that number. That number tells a lot, but for that you have to understand which text in the PAN card number says what.
The first three alphabets of the PAN card are randomly selected, which can be anything from A to Z. The fourth character tells to whom this PAN card belongs, such as from an individual person or a company, a government agency or a trust etc.
So if it is for an individual person then the fourth character will be “P”, that means the fourth character in your PAN card will also be P. Because you also want to get PAN card made for yourself individually.
The fifth character of the PAN card is the person who has the PAN card. is the first character of his surname, followed by a 4 character sequential number. And the last character is the alphabetic check digit, which is generated under a formula based on the last 9 characters.
what is pan card
PAN card is used for various types of financial transactions. Which includes banks and other financial companies, online product selling service selling company etc.
In how many days pan card is made
It takes about 1 month to get the PAN card ready and maybe longer. That delivery should be done around 1 month but it can also take up to 40 to 45 days.
how to use pan card
You can use PAN card directly only in your ID proof. You cannot do the rest financially. Rather, it will be used by the company whose financial services you will be using, such as a bank.
In this article you learned what is Pan card and PAN full form. We hope this information will prove useful for you.