How to know PAN for
individual or firm or Company?
PAN is a ten-digit alphanumeric identifier, issued by Income Tax
Department. A Unique pan has been issued to each assessee (e.g. individual,
firm, company etc.)This number is almost mandatory for financial transactions
such as opening a bank account, receiving taxable salary or professional
fees, sale or purchase of assets above specified limits. His number can be
considered to be similar to Social security number issued in United States to
citizens and other legal residents.
The fourth character
of the PAN must be one of the following, depending on the type of
assesses
Fifth field of PAN
denotes sur NAME
In case of individual:
Surname/last name (as given in pan application)
for ex. in case
of Ram Kumar(individual)
5th field will be "K"
4th field will be "P"
In case of Ram Kumar
Gupta(Individual)
5th field will be "G"
4th field will be "P"
In case of All Other
Assesees
5th field will be first letter of Name/first Name
for ex : In case of
Suresh Jindal (HUF)(confirmed)
5th field will be "S"(first letter of First name i.e
Suresh)
4th field will be "H"(for Huf)
for ex: in case of ABB
LTD(confirmed)
5th field will be "A"(first letter of First name)
4th field will be "C"(for company)
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