- Union Finance Minister Smt. Nirmala Sitharaman has launched the free instant e-PAN facility through Aadhaar Card. It is available only 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. The beta version of the facility of instant PAN through Aadhaar based e-KYC was started on 12th February 2020 on the e-filing website of the Income Tax Department.
- Since then onwards, over 6,77,000 instant PANs have been allotted with a turnaround time of about 10 minutes, up-to 25th May 2020.
- The instant PAN applicants are required to access the e-filing website of the Income Tax Department to provide their valid Aadhaar number and then submit the OTP received on their Aadhaar registered mobile number.
Published On : 29 May 2020
Current Affair
