Permanent Account Number (Pan: Fill & Download for Free

Permanent Account Number (PAN) as the name suggests is a permanent number. It does not change with any changes in data. Only the data on the PAN card and in the Income tax department database will change.This is true for cases where the surname of the person is changing. The fifth letter would be according to the earlier surname. Thereby, having no change in the PAN.Hope this helps.

Today, I’m gonna share about the significance of the 10 digits of your PAN if you are an Indian.Permanent Account Number (PAN) is a ten-digit alphanumeric number, issued in the form of a laminated card, by the Income Tax Department, to any “person” who applies for it or to whom the department allots the number without an application.What each character of Indian Permanent Account Number (PAN) means :The first five figures of the representation are alphabets, the next four digits are numbers and the last number is again an alphabet. All these digits have a meaning and reveal the information/details of the account holder.I. 1st-3rd characters:The first three characters, which are alphabets, is a combination of letters in the format AAA to ZZZ. The I.T. Department allocates the digits randomly and is a combination of the letters such as AZT or ZRT.II. 4th character:The fourth digit is an essential character and reveals a lot of information about the holder. The character identifies the account holder’s category. For example, letter “P” in the number states that the holder belongs to the “individual” category, as designated by the I.T. Department. The following is the status assigned by the department authorities based on the details received through the application:P = IndividualsF = FirmC = CompanyH = HUFA = AOP (Association of Persons)T = TrustG = Body of IndividualsL = LocalJ = Artificial Judicial PersonG = GovernmentIII. 5th character:The fifth character in the number is the first letter of the account holder’s surname or last given name. For instance, if the applicant’s name is Shweta Arora, the fifth letter, in this case, will be A.IV. 6th-9th characters:The four numeric digits next in the number are randomly selected numbers between 1001 and 9999.V. 10th character:The final character in the account number is the result of the calculation based on a formula that accommodates all the nine characters.Source:Content - What your PAN card -Permanent Account Number format really means/signifyImage - Online Financial Planning in India - Jagoinvestor , Knowledge Base Software

Between buyer and seller, TDS is not paid, TDS is cut and retained. TDS is to be paid to the Income Tax.Who does what? TDS is retained by the buyer/purchaser before paying the seller. TDS is applicable if sale value exceeds Rs. 50 lakhs.Points to be remembered by the Purchaser/Buyer of the Property:Deduct tax @ 1% from the sale consideration (depending upon the Date of Payment/Credit to the Seller). Pay the balance to the seller.Collect the Permanent Account Number (PAN) of the Seller and verify the same with the Original PAN card.PAN of seller as well as Purchaser should be mandatorily furnished in the online Form for furnishing information regarding the sale transaction.Do not commit any error in quoting the PAN or other details in the online Form as there is no online mechanism for rectification of errors. For the purpose of rectification you are required to contact Income Tax Department.Deposit the TDS with the Income Tax Department before the end of the Assessment Year online.Points to be remembered by the Seller of the Property:Provide your PAN to the Purchaser for furnishing information regarding TDS to the Income Tax Department.Verify deposit of taxes deducted by the Purchaser in your Form 26AS Annual Tax Statement.