New Delhi: Finance Minister Nirmala Sitharaman on Thursday introduced the facility of issuing Aadhaar KYC based instant e PAN numbers. This feature was announced by the Finance Minister in the General Budget of the current fiscal. Under this, the applicant will have to apply with the registered mobile number for Aadhaar and an e-PAN number will be issued immediately after verification. This facility is free and completely paperless.
Beta version was launched on 12 February:
A beta version of this feature was launched in February on the income tax department website. Since then, till May 25, 6,77,680 e-PANs have been issued. Through this, e-PAN is issued in just 10 minutes. According to income tax department data, a total of 50.52 crore PANs have been allocated so far. Out of this, 49.39 crore PANs have been issued individually. At the same time, only 32.17 crore PANs have been linked to Aadhaar.
How to apply for PAN:
The process of applying for PAN is very easy. The applicant has to provide his valid Aadhaar number on the e-filing website of the Income Tax Department. After this, an OTP will come on the mobile number linked to the applicant’s Aadhaar. This OTP has to be recorded on the website. A successful 15-digit enrollment number will be issued on successful completion of this process.
The applicant can check the information of his application on the basis of Aadhaar number at any time if required. The e-PAN can be downloaded after allocation. Apart from this, e-PAN will also be sent to the registered e-mail along with the Aadhaar of the applicant.
One more step towards Digital India:
In a statement issued by the Income Tax Department, the introduction of the Instant PAN facility is another step of the Department towards Digital India. Through Digital India, departmental taxpayers will have ease of compliance. Let us tell you that the department has made many types of services online for taxpayers including income tax e-filing.