If you have an Aadhar Number, PAN card allotment has just got easier for you as there will be no more document hassle, for, the Finance Minister on May 28 launched the facility for instant allotment of PAN (Permanent Account Number) card via Aadhaar-based e-KYC.
This facility is available for applicants who have a valid Aadhaar number and a mobile number registered with the Aadhaar database.
The near to real-time process, which was announced by the finance minister in Union Budget, is paperless, and applicants will receive an electronic PAN (e-PAN) for free.
In the Union Budget 2020, Sitharaman stated the following:-
“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.”
It is worth noting that this instant feature was introduced in its ‘Beta version’ on a trial basis on 12 February on the e-filing website of the Income Tax Department. Since then, over six lakh instant PANs have been allotted.