PAN card is not just a game of 10 letters, it is your 'financial horoscope', know the secret of each letter, otherwise there can be a huge loss!

Nowadays everyone has a PAN card in their pocket, there are many such works that cannot be completed without it. But have you ever looked carefully at the PAN card in the pocket? Actually, the 10 numbers seen in the card have a meaning. Yes, do you know the meaning of these letters, if not, then let us know in detail in this news.

We all have many cards in our pockets, but the most important of these is the PAN card (Permanent Account Number). PAN card is not just a piece of plastic, but is your 'financial identity card'. From paying income tax to opening a bank account, from buying property to making big investments, PAN card is needed everywhere.

Do you know that the 10 letters written on your PAN card are not written just like that. Many secrets are also hidden in them, they are 'secret codes' related to your identity. So if you do not understand these codes or ignore the importance of PAN card, then you may have to face trouble in the future.

PAN i.e. Permanent Account Number, issued by the Income Tax Department of India, is a 10-digit alphanumeric code. It is most important for every person or organization that comes under the purview of tax or does some special kind of financial transactions. So think, just like you have a roll number in school, similarly your PAN number is considered as your identity for the tax department.

The 10 characters on the PAN card are not just random, but have a special pattern hidden in them. The first three characters are English letters from AAA to ZZZ, which run in a sequence. The fourth letter is the most important and it tells who the card holder is: P–Person, C–Company, H–HUF, A–AOP, B–BOI, G–Government agency, J–Judicial person, L–Local body, F–Firm/LLP, T–Trust. Along with this, the fifth letter shows the first letter of the surname of the PAN holder. These characters together give your identity a unique digital identity.

By the way, each of the 10 characters of the PAN card has a special meaning. After the first 5 characters, the next four characters are numbers (0001 to 9999), which are sequential i.e. in order. These make every PAN holder unique. The 10th and last character is an English letter which is called the 'check digit'. It is determined by a special formula which is made on the basis of the first 9 characters.

PAN card has become a 'master key' today. Some works cannot be completed without it, such as income tax return (ITR) cannot be filed, opening a bank account is difficult, transactions of more than Rs 50,000 cannot be done, demat account cannot be opened, buying or selling property is difficult, buying or selling a car is difficult, etc.

If you do not have a PAN card right now or you do not use it at important places, then what will happen is that 20% or more TDS can be deducted on your income. Apart from this, in some cases the income tax department can also impose a penalty on you. Banks take PAN very seriously, so it is also important to understand the need for a PAN card.

Making a PAN card has become very easy in today's time. Now you can apply for PAN card online from home or take the help of an agent. Apart from this, e-PAN can also be obtained quickly through Aadhar card.