PAN Card 10 digit meaning
PAN Card 10 digit meaning : PAN (Permanent Account Number) card is a crucial identification document for taxpayers in India. It is a 10-digit alphanumeric code assigned by the Income Tax Department of India to individuals, companies, and entities that pay taxes in the country. The PAN card has become an essential document for financial transactions such as opening bank accounts, buying and selling properties, and filing tax returns.
The 10-digit PAN number is not just a random sequence of numbers and letters. Each digit of the PAN number represents a specific piece of information about the holder of the card. In this article, we will discuss the meaning of each digit of the PAN card number and what it represents.
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PAN Card 10 digit meaning
1) First five digits of the PAN card number
The first five digits of the PAN card number represent the jurisdiction code. The jurisdiction code is assigned based on the location of the Income Tax Office that issued the PAN card. For example, if the PAN card was issued in Mumbai, the first five digits of the PAN number would be “ABCDE,” where “A” represents the Mumbai jurisdiction code.
2) Sixth to Ninth Digit
The sixth to ninth digits of the PAN card number represent the unique sequence number. This sequence number is assigned to the PAN cardholder based on the number of PAN cards issued in a particular jurisdiction. For instance, if the jurisdiction code is “ABCDE,” and the PAN cardholder is the 10th person to receive a PAN card in that jurisdiction, the unique sequence number will be “0010.”
3) 10th Digit – Check Diigit
The tenth digit of the PAN card number is the check digit. It is calculated based on a specific formula that takes into account the first nine digits of the PAN card number. The check digit is used to verify the validity of the PAN card number.
It is worth noting that the first three characters of the PAN card number are always letters, followed by the next seven characters being numbers, and the last character being a letter. The letters used in the PAN card number are all uppercase English alphabets.
Conclusion
The 10-digit PAN card number is not just a random sequence of numbers and letters. It contains specific information about the PAN cardholder, including the jurisdiction code, unique sequence number, and check digit. Understanding the meaning of each digit of the PAN card number can help taxpayers verify the authenticity of the PAN card and avoid any discrepancies in their financial transactions.
