The Income Tax department said that the process for applying for instant PAN is extremely simple.
Instant PAN online throught Aadhaar: Finance Minister Nirmala Sitharaman today formally launched the facility for instant allotment of PAN through Aadhaar based e-KYC (on near to real-time basis). The Income Tax department tweeted that the process of applying for the instant PAN is very simple. You can go to the e-filing website of Income Tax Department for generating the PAN instantly.
Instant PAN process
The Income Tax department said that the process for applying for instant PAN is extremely simple. “The applicant may go to the e-filing website of the Income Tax Department to provide her/his valid Aadhaar no & submit the OTP generated on the Aadhaar registered mobile no.”
“On completion of this process, a 15-digit acknowledgement no is generated. The status of the request can be checked anytime by providing the valid Aadhaar no &once allotted, the e-PAN can be downloaded. e-PAN is also sent to the applicant on the email id, if registered with Aadhaar,” the tax department said.
The instant PAN facility was announced by the Finance minister in the Union Budget. The Ministry of Finance said in a statement that the instant PAN 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.
In the Union Budget, 2020, Sitharaman had announced to launch instant PAN facility shortly. “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,” She had said in Budget speech.
The ‘Beta version’ of instant PAN facility on a 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, the tax department said.