In a move expected to help taxpayers looking to generate permanent account numbers, the Income Tax Department on Friday launched a new facility to avail instant e-PAN. Those who do not hold PAN cards can now avail e-PAN facility on a real-time basis and that too free of cost just using Aadhaar card. It is valid for a limited period on a first-come, first-served basis for valid Aadhaar holders. An applicant doesn’t need to submit any documents for availing the facility.
Prerequisites
Applicants already having PAN should not apply for e-PAN.
The e-PAN facility is only for resident individuals (except minors and others covered u/s 160 of Income Tax Act, 1961) and not for HUF, Firms, Trusts, and Companies etc.
Active mobile numbers linked with Aadhaar OTP.
e-PAN is generated using the particulars available in Aadhaar.
Income tax filing
The last date for filing the annual income tax return (ITR) for the financial year 2018-19 or assessment year 2018-19 to the Income Tax Department is July 31. It is mandatory for people to file tax returns if their gross total income (before allowing deductions under section 80C to 80U) exceeds Rs 250,000 in a financial year.
The limit is Rs 300,000 for senior citizens (more than 60 years old, but less than 80 years old) and Rs 500,000 for super-senior citizens (more than 80 years old). One can file his/her return involuntarily even if your income is less than the maximum exemption limit.
Documents needed to file ITR
For filing income tax returns (offline or online), you need to keep a handy checklist of several details including bank account details, PAN number, payslips, rent receipts for claiming HRA, the address of the house property. One can also file return voluntarily even if his or her income is less than the maximum exemption limit.