Meaning of PAN Card
The Permanent Account Number under new series is based on following constant permanent parameters of a taxpayer and uses Phonetic Soundex code algorithm to ensure uniqueness :- i. Full name of the taxpayer; ii. Date of birth / Date of Incorporation; iii. Status; iv. Gender in case of individuals; and v. Father's name in case of individuals (including in the cases of married ladies) These five fields are called core fields, without which PAN can not be allotted. The PAN under the new series is allotted centrally by a customised application system (IPAN / AIS) for all-India uniqueness. The system automatically generates a 10 character PAN using the information in above five core fields.