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A point p on a Regular Surface 
 is said to be planar if the Gaussian Curvature
 and 
 (where 
 is the Shape Operator), or equivalently, 
both of the Principal Curvatures 
 and 
 are 0.
See also Anticlastic, Elliptic Point, Gaussian Curvature, Hyperbolic Point, Parabolic Point, Synclastic
References
Gray, A.  Modern Differential Geometry of Curves and Surfaces.  Boca Raton, FL: CRC Press, p. 280, 1993.