Government launches facility for instant PAN allotment via Aadhaar: Here#39;s all you need to know

May 28
21:29 2020

The Centre on May 28 formally launched the facility for instant allotment of PAN cards via Aadhaar-based e-KYC.

All those who possess a valid Aadhaar card linked to a registered mobile number can avail of this facility. The allotment process is paperless and an electronic PAN (e-PAN) is issued to the applicants free of cost.

This follows the announcement made by Finance Minister Nirmala Sitharaman earlier this year as part of the Union Budget, for the introduction of a system under which PAN could be allotted instantly using Aadhaar cards. The facility eliminates the need for filling up of detailed application forms.

“The ‘Beta version’ of Instant PAN allotment facility was started on trial basis in Feb 2020 on e-filing website of IT Deptt. 6,88,727 requests for instant PAN allotment were recd upto 25/05/2020,out of which 6,77,680 instant PAN were allotted with turnaround time of just 10minutes,” the Central Board of Direct Taxes (CBDT) said.

related news

Here’s how one can apply for PAN via this route

>Go to the e-filing website of the Income Tax Department.

>Provide your valid Aadhaar number.

>You will receive a one-time password (OTP) on your Aadhaar-registered mobile number, which you will be required to submit.

>Following this, a 15-digit acknowledgment number is generated.

>To check the status of your request, you can use your Aadhaar number.

>Once alloted, the e-PAN will be available for download.

>If an applicant has an email ID registered with the Aadhaar, the e-PAN will be sent to that address as well.

Moneycontrol Ready Reckoner

Now that payment deadlines have been relaxed due to COVID-19, the Moneycontrol Ready Reckoner will help keep your date with insurance premiums, tax-saving investments and EMIs, among others.

Get best insights into Options Trading. Webinar by Mr. Vishal B Malkan is Live. Watch Now!

Related Articles