The government this month will roll out a facility to issue online PAN cards instantly on furnishing of Aadhaar details, Revenue Secretary Ajay Bhushan Pandey has said.
The Budget 2020-21 has proposed to launch a system under which Permanent Account Number shall be instantly allotted online on the basis of Aadhaar without filling up the detailed application form as it sought to further ease the process of allotment of PAN, reports Livemint.
Explaining how the facility would work, he said individuals can go to the income tax department website and enter the Aadhaar number. A one-time password (OTP) will be sent to the Aadhaar registered mobile number. The OTP will be used to verify Aadhaar details. Following this PAN will be allotted instantly and the individual can download the e-PAN card.
This will help the taxpayer to get rid of the hassle of filling up application form and submitting it to the tax department and would also ease the process for tax administration of sending PAN cards to the residential address of the taxpayer.
The government has made PAN-Aadhaar linkage mandatory and over 30.75 crore PANs have already been linked to Aadhaar. However, as on January 27, 2020, over 17.58 crore PANs are yet to be linked with Aadhaar.
The last date for the PAN-Aadhaar linkage is March 31, 2020.