Types of PAN Card

There are two categories under which PAN Card is issued: Individuals and Non-Individuals.

For Individual:

1. Individual PAN: Individual consumers, including Indian citizens and foreign people residing in India, are granted PAN cards of this sort.
2. Minor PAN: Minors (those under the age of 18) may also be given a PAN card for use in a variety of financial transactions, investments, and educational needs. The card includes information regarding a guardian.
3. PAN for NRI: Non-resident Indians (NRIs) can apply for a PAN card that is specifically made for NRIs if they have financial transactions or income sources from India.

For Non-Individual:

1. Company PAN: Public and private businesses must have a company PAN card. For taxation, financial transactions, and legal compliance, it is crucial.
2. Partnerships: Limited liability partnerships (LLPs) and other partnership firms are eligible to apply for a PAN card under their business name. Transactions involving business are conducted using this PAN.
3. Hindu Undivided Family (HUF) PAN: HUFs are able to apply for a PAN card in order to manage their finances and submit tax returns on their own behalf.
4. Trust PAN: To manage their finances and meet their tax requirements, trusts, charitable organisations and other like entities can apply for a PAN card.
5. PAN for an Association of Persons (AOP) or Body of Individuals (BOI): AOPs and BOIs can obtain a PAN card to control their group’s financial operations.
6. Government PAN: For formal financial and taxes purposes, government institutions and organisations may obtain a PAN card.
7. PAN for Local Authorities: PAN cards are available to local authorities, including municipal corporations, panchayats, and similar groups.