- The first PAN card was issued in 1989.
- 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.
- 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.
- The fifth character of the PAN number is the first letter of the PAN holder’s surname.
- 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.
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