Get your PAN number in 10 minutes!

To get a PAN, now there is no need to fill a detailed application form. Your Aadhaar number is sufficient. On Thursday, Union Finance Minister Nirmala Sitharaman launched the facility of instant Permanent Account Number using Aadhaar number-based e-KYC. This is the Income Tax departments yet another step towards Digital India as the allotment process is completely paperless. The income tax department says this move will create further ease of compliance with the taxpayers.

WHAT IS THE PROCESS?

The applicant is supposed to go to the e-filing website of the IT department to provide the valid Aadhaar number and then submit the OTP received on the Aadhaar registered mobile number. This will generate a 15-digit acknowledgment code. Then, the e-PAN is sent to the applicant on the email id provided. The applicant can download it free of cost.

Finance Minister Nirmala Sitharaman announced to launch this facility in the Union Budget 2020.

"In the last budget, I had announced the interchangeability of PAN and Aadhaar for which necessary rules were already notified. In order to further ease the process of allotment of PAN, soon we will launch a system under which PAN shall be instantly allotted online on the basis of Aadhaar without any requirement of filing up a detailed application form," FM Sitharaman said in the budget speech.

A 'Beta-version' on instant PAN facility on a trial basis began on February 12, 2020, on the e-filing website of the Income Tax department. On May 25, over 6.78 lakh instant PAN numbers were allotted within 10 minutes.

News source: https://www.timesnownews.com/business-economy/article/get-your-pan-number-in-10-minutes/598328


Back to blogs
Blog Views : 107 2020-05-30 06:37:35