As part of the aforementioned project, the Income Tax Department was working over a real-time PAN-TAN centre which would reduce the time frame that is required for allotment of PAN.
e-PAN in less than 10 minutes! The government is working on an initiative that will allow you to get e-PAN through Aadhaar Card-based e-KYC (Know Your Customer) in less than 10 minutes. In a written reply in Lok Sabha, MoS Finance Anurag Thakur said that the goverment is working on a process whereby Permanent Account Number (PAN) or Tax Deduction Collection Account Number (TAN) Processing Centre will allot e-PAN through Aadhaar Card-based e-KYC on near to real-time basis.
Here is all you want to know about e-PAN in less than 10 minutes
1. Minister of State for Finance Anurag Thakur during Budget Session 2019 in Lok Sabha said that the central government was working on certain projects with an aim to improve the technology aspect of the Income Tax department. He emphasized that this would lead to enhanced time-bound services to the income taxpayers.
2. As part of the aforementioned project, the Income Tax Department was working over a real-time PAN-TAN centre which would reduce the time frame that is required for allotment of PAN.
3. The process once started will benefit those applicants who apply through ‘Aadhaar-based e-KYC route as the proposed technology will upgrade the allotment process and infrastructure.
4. TAN is a 10-digit alphanumeric number which needs to be quoted by every tax deductor while making any tax payment to the Central Government. PAN is a 10-digit alphanumeric code that I-T department issues to uniquely identify income taxpayers.
5. Apart from this, the I-T department is working on ‘Project Insight’. The project is a business intelligence platform and integrated data warehousing which is being rolled out in a phased manner. The project aims at strengthening the non-intrusive information-driven approach for improving compliance.
6. Apart from this, an Integrated E-filing and centralized Processing Centre (CPC) 2.0 Project has also been approved by the Central government. The project envisages pre-filing of Income Tax Returns (ITRs) by the I-T department. This also envisages acceptance of pre-filing of ITRs by the income taxpayer so as to improve the accuracy of the information contained in the return. This would drastically reduce the time taken to process return and issue refunds.