Posted by The Income Tax department has rolled out an ‘instant’ Aadhaar-based PAN allotment service for individuals seeking to obtain the unique identity for the first time. This facility is free of cost and instant allotment of e-PAN is available only for a limited period on first-come-first-serve basis for valid Aadhaar holders, the I-T department said in a recent advisory. According to a senior official, the new facility has been launched on account of an increasing number of people applying to obtain the Permanent Account Number (PAN) for their financial and tax matters.
Here’s everything you should know about ‘instant’ Aadhaar-based online PAN:
*An individual will be allotted a fresh PAN on the basis of a one time password (OTP) sent over the “active mobile number” linked with the valid Aadhaar number, the advisory said.
*The new PAN will have the same name, date of birth, gender, mobile number and address that is present in the individual’s Aadhaar.
*The e-PAN facility is only for resident individuals and not for Hindu Undivided Family (HUF), firms, trusts and companies etc.
*Once the PAN is allotted to an applicant through his electronic Aadhaar-based verification system in a few seconds, the applicant will be sent the PAN card by post in sometime, the official said. “This is one more initiative that leverages the Aadhaar database to quickly disburse/allot a government service,” he said.
*The process can be done at the official portal of the department –https://www.incometaxindiaefiling.gov.in.
*This new service comes after the Central Board of Direct Taxes, that makes policy for the Income Tax department, had extended the deadline for the PAN-Aadhaar linking to March 31 next year. This is the fifth time it has extended the deadline for individuals to link their PAN to their biometric ID.
Source:- indianexpress
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