It facilitates the easy retrieval of NAP holder information and the reconciliation of the NAP holder`s various investments, borrowings and other business activities. Fourth character: The fourth character of your PAN always represents your status. The fourth character for the majority of NAP holders is the letter “P”, which stands for “person”. The other nine letters that can represent the fourth character are C, H, F, A, T, B, L, J, and G. Credit card companies like Visa are asking merchants to take precautions to protect customers` primary account numbers. One of these directives is called NAP reduction. Visa says merchants are not required to store full account numbers. This poses a security risk in the event of a data breach. In the United States, a federal law called the Fair and Accurate Credit Transactions Act of 2003 (FACTA) prohibits merchants from printing more than the last 5 digits of a cardholder`s account number on a receipt. Merchants are also prohibited from printing the expiry date of the card. 4.
Character: The fourth character of the NAP represents the status of the NAP holder (e.g. ALWPG5809L). “A” stands for Association of Persons (AoP) “B” stands for Body of Individuals (BOI) “C” stands for Company “F” stands for Firm/Limited Liability Partnership “G” stands for Government Agency “H” stands for Hindu Undivided Family (HUF) “J” stands for Artificial Juridical Person “L” stands for Local Authority “P” stands for Individual “T” stands for Trust 5th Character: The fifth character of PAN represents the first character of the NAP holder`s surname/surname in the case of a person. For non-individual NAP holders, the fifth character represents the first character of the NAP holder`s name (e.g. ALWPG5809L) PAN allows the ministry to identify/link all transactions of the PAN holder to the department. These transactions include tax payments, TDS/CHT credits, tax returns, certain transactions, correspondence, etc. Master account numbers are unique identifiers for various payment cards, such as credit and debit cards, that provide information about the cardholder, such as name, balance, and credit limit. NAPs can also be used to identify other types of cards that store value, such as a gift card or prepaid card. The fifth character, i.e.
“P” in the NAP above, represents the first character of the NAP holder`s surname. The next four characters, i.e. “7167” in the PAN above, are sequential numbers ranging from 0001 to 9999. The last character, i.e. “R” in the PAN above, is an alphabetical check digit. The fourth character of the NAP represents the status of the NAP holder. With this in mind, the department issues a PAN card to each person. However, this information is not available to the PAN cardholder. Financial institutions and lenders may issue debit and credit cards to a secondary user authorized by the primary account holder. If an account has a sub account holder, both cards can use the primary account number. However, some institutions have a card issuance policy that allows the secondary user to have a secondary account number. There is important information for all PAN cardholders.
Each PAN card contains a permanent account number. This issue contains a lot of information that is important for the income tax department. PAN Card Number Meaning: Have you ever wondered what the number printed on the Permanent Account Number (PAN) means? How is it trained by public servants? What does it say? What deep meaning does it have? Does this reveal anything about the status of the NAP holder? Another set of questions that arise is how to determine whether the NAP is issued in the name of a company or in the name of a person or something else. Do not worry. After reading this, you will become a professional at decoding and understanding the PAN. Not only that, but you will also learn the deep and hidden meanings that your PAN card carries. A typical permanent account number would look like CFZPP7167R. The logic behind the table of numbers and alphabets is as follows:The first three characters, i.e. “CFZ” in the PAN above, are alphabetical series ranging from AAA to ZZZ. The fourth character, i.e. “P” in the NAP above, represents the status of the NAP holder. Each type of owner is uniquely defined by a letter from the following list: Although there are only 58 million taxpayers in India, there were 445 million true NAPs as of March 31, 2019.
[18] [19] Although the alphanumeric PAN number is unique, individuals and businesses could fraudulently obtain multiple PAN cards.
