1 00:00:00 --> 00:00:05 Welcome to the Spoken Tutorial on Introduction to PAN card 2 00:00:06 --> 00:00:07 In this tutorial we will learn 3 00:00:08 --> 00:00:09 -About PAN card 4 00:00:10 --> 00:00:13 -Structure and Validation of PAN card 5 00:00:14 --> 00:00:15 -Need for a PAN card and 6 00:00:16 --> 00:00:17 -To know your PAN card 7 00:00:18 --> 00:00:22 PAN stands for Permanent Account Number 8 00:00:23 --> 00:00:27 This is how a PAN Card looks like. 9 00:00:28 --> 00:00:34 It is a ten digit alphanumeric combination issued to all juristic entities 10 00:00:35 --> 00:00:39 It is issued by the Indian Income Tax Department 11 00:00:40 --> 00:00:43 The most important purpose of allotting PAN card is 12 00:00:44 --> 00:00:47 For the purpose of identification and 13 00:00:48 --> 00:00:52 To track all the monetary information of that entity. 14 00:00:53 --> 00:00:54 Facts about pan card. 15 00:00:55 --> 00:00:59 PAN is unique, national and permanent 16 00:01:00 --> 00:01:02 It is unaffected by the change of address 17 00:01:03 --> 00:01:06 It is illegal to own more than one PAN 18 00:01:07 --> 00:01:09 Who all can get a PAN card? 19 00:01:10 --> 00:01:11 Person 20 00:01:12 --> 00:01:14 Company 21 00:01:15 --> 00:01:18 HUF i.e Hindu Un-divided Family. 22 00:01:19 --> 00:01:21 Trust and many other bodies 23 00:01:22 --> 00:01:24 Why do we need a PAN card? 24 00:01:25 --> 00:01:29 PAN card acts as an important photo-ID proof 25 00:01:30 --> 00:01:37 PAN card helps in transactions like opening a bank account, 26 00:01:38 --> 00:01:42 buying or selling of assets, etc. 27 00:01:43 --> 00:01:49 Pan Card is used for accounting purposes on receivable taxable salary 28 00:01:50 --> 00:01:52 Aids in filing of Income Tax Returns 29 00:01:53 --> 00:01:58 Used as a documentary proof for opening DEMAT Account for share trading 30 00:01:59 --> 00:02:06 It is used as a documentary proof for bank withdrawals exceeding Rs.50, 000 31 00:02:07 --> 00:02:12 It is a tool that helps the IT Dept to keep a check over tax defaulters. 32 00:02:13 --> 00:02:17 This is done by indirectly tracking their credit history. 33 00:02:18 --> 00:02:26 Used as a documentary proof for availing TDS i.e (Tax Deductions at Source) 34 00:02:27 --> 00:02:30 Documentary evidence to apply for passport, 35 00:02:31 --> 00:02:31 address changes 36 00:02:32 --> 00:02:39 and for obtaining other such relevant documents 37 00:02:40 --> 00:02:46 For fixed deposits of more than Rs.50,000 38 00:02:47 --> 00:02:55 Payment to hotel bills and travel expenses exceeding Rs.25,000 39 00:02:56 --> 00:03:04 Application for issue of a credit card 40 00:03:05 --> 00:03:09 Application of telephone connection 41 00:03:10 --> 00:03:12 PAN structure is as follows 42 00:03:13 --> 00:03:20 First five characters are letters, next 4 numerals, last character letter. 43 00:03:21 --> 00:03:28 The first three letters are sequence of alphabets from AAA to ZZZ. 44 00:03:29 --> 00:03:35 The fourth character informs about the type of the holder of the Card. Each assess is uniquely 45 00:03:36 --> 00:03:37 P for Person 46 00:03:38 --> 00:03:40 C for Company 47 00:03:41 --> 00:03:44 H for HUF i.e Hindu Undivided Family 48 00:03:45 --> 00:03:46 Ffor Firm 49 00:03:47 --> 00:03:50 A for AOP i.e Association of Persons 50 00:03:51 --> 00:03:52 T for Trust 51 00:03:53 --> 00:03:56 B for BOI i.e Body of Individuals 52 00:03:57 --> 00:04:00 L for Local Authority 53 00:04:01 --> 00:04:04 J for Artificial Juridical Person and 54 00:04:05 --> 00:04:06 G for Government 55 00:04:07 --> 00:04:09 The fifth character of the PAN is 56 00:04:10 --> 00:04:17 the first character of the surname or last name of the person, in the case of a "Personal" PAN card 57 00:04:18 --> 00:04:25 In the image shown, the surname is Yadav. Therefore, the 5th character is Y. or 58 00:04:26 --> 00:04:37 the name of the Entity/ Trust/ Society/ Organization in the case of Company/ HUF / Firm or any other types of PAN Cards. 59 00:04:38 --> 00:04:41 In the image shown, the name of the trust is Shanoz. 60 00:04:42 --> 00:04:45 Therefore, the 5th character is S. 61 00:04:46 --> 00:04:49 The last character is an alphabetic check digit. 62 00:04:50 --> 00:04:58 The Date of Issue of the PAN card is mentioned at the right (vertical) hand side of the PAN card. 63 00:04:59 --> 00:05:09 You can verify or validate new and existing PAN numbers by visiting the following link: 64 00:05:10 --> 00:05:11 Now let us summarize 65 00:05:12 --> 00:05:14 In this tutorial we have learnt 66 00:05:15 --> 00:05:15 -About PAN card 67 00:05:16 --> 00:05:18 -Structure and Validation of PAN card 68 00:05:19 --> 00:05:20 -Need for a PAN card and 69 00:05:21 --> 00:05:22 -To know your PAN card 70 00:05:23 --> 00:05:26 Watch the video available at the following link 71 00:05:27 --> 00:05:29 It summarizes the Spoken Tutorial project 72 00:05:30 --> 00:05:33 If you do not have good bandwidth, you can download and watch it 73 00:05:34 --> 00:05:35 The Spoken Tutorial Project Team 74 00:05:36 --> 00:05:39 • Conducts workshops using spoken tutorials 75 00:05:40 --> 00:05:42 • Gives certificates for those who pass an online test 76 00:05:43 --> 00:05:49 • For more details, please write to contact@spoken-tutorial.org 77 00:05:50 --> 00:05:53 Spoken Tutorial Project is a part of the Talk to a Teacher project 78 00:05:54 --> 00:06:00 It is supported by the National Mission on Education through ICT, MHRD, Government of India 79 00:06:01 --> 00:06:10 More information on this Mission is available at http://spoken-tutorial.org/NMEICT-Intro 80 00:06:11 --> 00:06:13 We have come to the end of this tutorial. 81 00:06:14 --> 00:06:19 This is Arthi signing off from IIT Bombay Thanks for Joining