Home News & Interview Finance Minister Launches Facility Of Instant PAN Through Aadhaar Based E-KYC

Finance Minister Launches Facility Of Instant PAN Through Aadhaar Based E-KYC

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Finance Minister Nirmala Sitharaman today officially launched the instant Permanent Account Number (PAN) facility which uses Aadhaar number based e-KYC as announced in the Union Budget earlier.

The facility is now available for all those Permanent Account Number (PAN) applicants who possess a valid Aadhaar number and have a mobile number registered in the UIDAI database. The allotment process is paperless and an electronic PAN (e-PAN) is issued to the applicants free of cost.

Although the facility of instant PAN through Aadhaar based e-KYC was launched formally today, however, its ‘‘Beta version” on trial basis was started on February 12, 2020 on the e-filing website of Income Tax Department.

As on May 25, a total of 50.52 crore PANs have been allotted to the taxpayers. Out of which, around 49.39 crore are allotted to the individuals and more than 32.17 crore are seeded with Aadhaar so far.

The process of applying for instant PAN is very simple. The instant PAN applicant is required to access the e-filing website of the Income Tax Department to provide her/his valid Aadhaar number and then submit the OTP received on her/his Aadhaar registered mobile number. On successful completion of this process, a 15-digit acknowledgment number is generated.

Once allotted, the e-PAN card can be downloaded from the portal. The e-PAN is also sent to applicant on the email id, if registered with Aadhaar.

 

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