Today, Finance Minister of India Ms Nirmala Sitharaman formally launched the facility for free instant allotment for PAN (Permanent Account Number) card using Aadhaar based e-KYC. This will be a paperless process and e-PAN (electronic PAN) will be issued free of cost to the applicants by the income tax department.
The process of applying for PAN is extremely easy. Here is how to do it?
- Go to the e-filling website of the income tax department.
- Share your Aadhaar number.
- Share the OTP received on your mobile number linked to Aadhaar.
- After this, you will get a 15-digit acknowledgement number.
- Once allotted, e-PAN can be from the portal.
- E-PAN will also be sent to the email id of the applicant if it is registered with Aadhaar.
On 25th March 2020, the income tax department said, “a total of 50.52 crore PANs have been allotted to taxpayers, out of which, around 49.39 crores are allotted to individuals and more than 32.17 crores are seeded with Aadhaar so far.”
It is mandatory to link your PAN card to your Aadhaar by 30th June 2020 or else your PAN card will be inoperative. All income taxpayers are allowed to use their Aadhar number in place of PAN.
