New Delhi: As proposed in the Budget 2020-21, Finance Minister Nirmala Sitharaman recently launched a facility for instant allotment of online PAN on furnishing of Aadhaar details. Earlier this year, the Union Budget had proposed to launch a system under which Permanent Account Number (PAN) shall be instantly allotted online on the basis of Aadhaar without filling up the detailed application form as it sought to further ease the process of PAN allotment.Also Read - Income Tax Return: Now Taxpayers Can File ITR From Home Using New Tax e-filing Portal | Step-by-step Guide Here
In a statement, the Central Board of Direct Taxes (CBDT) said Finance Minister Nirmala Sitharaman on Thursday formally launched the facility for instant allotment of PAN (on near to real time basis). Also Read - India's GDP Expands 8.4 Per Cent in July- September Quarter as Covid Restrictions Ease
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“This facility is now available for those PAN applicants who possess a valid Aadhaar number and have a mobile number registered with Aadhaar.
What about the cost?
The allotment process is paperless and an electronic PAN (e-PAN) is issued to the applicants free of cost.
Follow these steps to download instant PAN card:
Go to the e-filing website of the Income Tax Department
Enter your 12-digit Aadhaar number
Submit the OTP generated on the Aadhaar registered mobile number.
A 15-digit acknowledgment number will be generated.
Once allotted, you can download e-PAN card from the portal.
The e-PAN is also sent to the applicant on her/his e-mail ID, if it is registered with Aadhaar.
“The launch of the Instant PAN facility is yet another step by the Income Tax Department towards Digital India, thereby creating further ease of compliance for the taxpayers,” the CBDT stated.
The ‘beta version’ for instant allotment of PAN on trial basis was started on February 12, 2020 on the e-filing website of the Income Tax Department. Since then, 6,77,680 instant PANs have been allotted with a turnaround time of about 10 minutes, till May 25, 2020. As on May 25, 2020, a total of 50.52 crore PANs had been allotted to taxpayers, out of which around 49.39 crore were allotted to individuals and more than 32.17 crore linked with Aadhaar.
The last date for the PAN-Aadhaar linkage is June 30, 2020.