Consider the following statements: (a) PAN (Permanent Account Number) is an eleven-character alphanumeric number. (b) STT refers to Service Transaction Tax.

Which of the given statements is/are incorrect?

PAN - Permanent Account Number is a ten-character alphanumeric number increasingly being recognised as an identity proof and is a mandatory document for key transaction viz purchase of property, bank account opening, share transaction, etc. (ii) STT stands for Securities Transaction Tax. Equity shares and their derivatives attract STT. Service Tax, surcharge and education less are not leviable on STT.