New Delhi, May 29: Union Finance Minister, Nirmala Sitharaman on May 28, launched the facility for the instant allotment of PAN card. Sitharaman announced that the facility is available now for anyone who has a valid Aadhaar number and a mobile number registered with it.
This interchangeability of PAN and Aadhaar was promised in the 2020 Budget speech and was formally launched by Sitharaman on Thursday. Additionally, the good news is that the allotment process is paperless and an electronic PAN (e-PAN) is issued to the applicants free of cost. While the trial version of this facility has been available since February 2020, almost 6.8 lakh have already been given their instant PANs. Sitharaman stated that this launch of the e-PAN facility is a step taken by the Income Tax Department towards Digital India, thereby creating further ease of compliance for the taxpayers.
The process of applying for the e-PAN is very simple: the applicant has to access the e-filing website of the Income Tax Department and then provide her/his valid Aadhaar number, following which they submit the OTP received on her/his Aadhaar registered mobile number. On completion of this process, a 15-digit acknowledgement number is generated. If needed, the applicant can also check the status of their request at any time by providing her/his valid Aadhaar number. Once the allotment is successful, they can download the e-PAN. The e-PAN is also sent to the applicant on her/his email ID if it’s registered with Aadhaar. All PANs are required to be linked to their Aadhaar card by June 30, to continue validity. So far, of the 50 crore approximate PANs allotted to taxpayers, only 32 crores have successfully linked their PAN to their Aadhaar.