NEW DELHI: The Income Tax Department has launched an online Aadhaar-based system where first-time applicants can get their Permanent Account Numbers (PAN) ‘instantly’. “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 department said, adding that a fresh PAN will be allotted on the basis of a one time password (OTP) sent over the “active mobile number” linked with the valid Aadhaar number of a person.
While Aadhaar is issued by the Unique Identification Authority of India to a resident of India, PAN is a 10-digit alphanumeric number allotted by the I-T department to a person, firm or entity.’The new PAN dispensed by the system 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,” the authorities said in a recent advisory.
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 process can be done at the official portal of the department.
Meanwhile, agencies report I-T Department officials stating that the new facility has been introduced in view of an increasing number of people applying to obtain PAN for their financial and tax matters.
The Central Board of Direct Taxes, that makes policy for the Income Tax department, had yesterday extended the deadline for the PAN-Aadhaar linking to March 31 next year.