The government has just recently launched a new facility for Indian taxpayers which provides them with a Permanent Account Number (PAN) within 10 minutes, that too free of cost, on furnishing the Aadhaar details. However, this facility is available only for those who have never been allotted PAN before.
The e-filing website states, “Instant PAN allotment in near to real time is available at free of cost. Individuals (other than minors) with a valid Aadhaar number (with updated Mobile number) can avail the PAN allotment facility,” says the e-filing website of the income-tax department.
The new initiative will not only help taxpayers avoid filling up long application forms, it will also ease the process for the tax department that currently needs to send PAN cards to the residential address of the taxpayers.
Individuals need to visit incometaxindiaefiling.gov.in. Click on ‘Instant PAN through Aadhaar’ under the ‘Quick Links’ option, and then click on ‘Get New PAN’ option.
Then individuals will be asked to enter their Aadhaar number and will also need to select a tick box that confirms that they have never been allotted a PAN before, their mobile number is linked with Aadhaar number, their complete date of birth in DD-MM-YYYY format is available on Aadhaar card and they are not minor as on application date of PAN.
After confirming so, taxpayers will be sent a one-time password (OTP) on their Aadhaar-registered mobile number. The OTP can then be used to verify Aadhaar details, thereby completing the e-KYC (know your customer) process. After this, e-PAN will be allotted instantly in PDF format and can be downloaded by the individual.
The FAQ section on the website says that e-PAN is valid and is not different from the PAN issued by the income-tax department via other modes of application. However, this PAN is paperless, online and free of cost.
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