5 Fascinating Facts about PAN Card

  1. The first PAN card was issued in 1989.
  2. The 10-digit PAN number is a combination of alphabets and numbers. The first 5 characters are alphabets, followed by 4 numbers and the last character is an alphabet.
  3. The fourth character of the PAN number indicates the type of entity. For example, P stands for an individual, C stands for a company, H stands for a Hindu Undivided Family (HUF), and so on.
  4. The fifth character of the PAN number is the first letter of the PAN holder’s surname.
  5. PAN card is not mandatory for everyone. However, it is required for certain financial transactions, such as opening a bank account, investing in shares or mutual funds, and purchasing immovable property.