As announced in the Union Budget, Nirmala Sitharaman, Finance Minister on 28th May 2020 formally launched instant allotment of PAN card using Aadhaar-based e-KYC facility for people. This new facility is for all those PAN card applicants who have a valid Aadhaar number & have a mobile number registered in the UIDAI database. PAN Card is an important ID proof that is required by everyone including farmers in the country.
The allotment procedure has been made paperless and an electronic PAN (e-PAN) is issued to people free of cost by the Income Tax department.
Though the facility of instant Permanent Account Number through Aadhaar based e-KYC was formally launched on Thursday, its ‘Beta version’ on trial basis was available on the e-filing website of I-T department since February.
The department in a release said that since then over 6.7 lakh instant PAN cards have been given to taxpayers and the best thing is that the turnaround time is just 10 minutes.
How to apply for instant PAN Card
The method to apply for instant PAN card is very simple.
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Go to the official e-filing website of Income Tax Department
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Now enter your Aadhaar number & submit the OTP generated on the Aadhaar registered mobile number.
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Once the process is completed, a 15-digit acknowledgment number would be generated.
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And after it is allotted, you can download the e-PAN card from the portal.
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e-PAN is also sent on the email id, if it is registered with Aadhaar.
The IT department said as on 25 May, a total of 50.52 crore PAN cards have been given to taxpayers, of which, about 49.39 crore are allotted to the individuals and over 32.17 crore are seeded with Aadhaar.
It is compulsory to link your PAN card with Aadhaar card till 30th June 2020, failing which it will become inoperative. The income tax department has also allowed all tax-payers to use their Aadhaar number instead of PAN.
