FM LAUNCHES FACILITY
OF INSTANT PAN
THROUGH AADHAAR BASED
E-KYC
FM
launches facility of Instant PAN through Aadhaar based e-KYC
Posted On: 28 MAY 2020 4:42PM by PIB Delhi
In line with the announcement made in the
Union Budget, Union Minister for Finance & Corporate Affairs Smt. Nirmala
Sitharaman formally launched the facility for instant allotment of PAN (on near
to real time basis) here today. This facility is now available for those PAN
applicants who possess a valid Aadhaar number and have a mobile number
registered with Aadhaar. The allotment process is paperless and an electronic
PAN (e-PAN) is issued to the applicants free of cost.
It may be recalled that in the Union Budget,
2020, Finance Minister Smt. Sitharaman had announced to launch instant PAN facility
shortly. In para 129 of the Budget Speech, the Finance Minister had
stated, “In
the last Budget, I had introduced the interchangeability of PAN and Aadhaar for
which necessary rules were already notified. In order to further ease the
process of allotment of PAN, soon we will launch a system under which PAN shall
be instantly allotted online on the basis of Aadhaar without any requirement
for filling up of detailed application form.”
The facility of instant PAN through Aadhaar
based e-KYC has been launched formally today, however, its ‘Beta version’ on
trial basis was started on 12th Feb 2020 on the e-filing website of Income
Tax Department. Since then onwards, 6,77,680 instant PANs have been allotted
with a turnaround time of about 10 minutes, till 25th May 2020.
It may also be noted that as on 25.05.2020, a
total of 50.52 crore PANs have been allotted to the taxpayers, out of which,
around 49.39 crore are allotted to the individuals and more than 32.17crore are
seeded with Aadhaar so far.
The process of applying for instant PAN is
very simple. The instant PAN applicant is required to access the e-filing
website of the Income Tax Department to provide her/his valid Aadhaar number
and then submit the OTP received on her/his Aadhaar registered mobile number.
On successful completion of this process, a 15-digit acknowledgment number is
generated. If required, the applicant can check the status of the request
anytime by providing her/his valid Aadhaar number and on successful allotment,
can download the e-PAN. The e-PAN is also sent to the applicant on her/his
email 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 to the taxpayers.
No comments:
Post a Comment