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A PAN Card, one of the important documents for an Indian citizen, does not merely act as ID card but is essential for tax purposes. The Permanent Account Number(PAN) brings a universal identification to all financial transactions to rule out tax evasion.
Issued under the Tax Department of India, it keeps a track of monetary transactions of high-net-worth individuals.
An e-PAN is basically your digitally-signed PAN Card, issued in an electronic format. The demographic details like name, photograph and date of birth are retained by the QR code, given on the instant PAN card. The QR code is also given to deter the risks of forgery. Those who possess a valid Aadhaar number and have Aadhaar-registered mobile number can easily opt for the cost-free e-PAN application, which offers a paperless allotment process as well.
In the Union Budget 2020, the government has launched a Facility of getting instant PAN card through Aadhaar without the requirement of submitting a comprehensive application form. Today, getting an instant e-PAN is hassle-free and paperless, implemented to ease the elaborate application process. One can get an instant e-PAN in minutes depending on the e-KYC, based on Aadhaar. Getting an instant PAN card online is quite effortless these days with the perks of viewing the allotment status any time, by just providing the Aadhaar number post submission of Aadhar details for validation.
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Documents required for application are as follows:
Therefore, an applicant must put the right Aadhaar details so that the application doesn’t get rejected due to data-mismatch. However, certain things need to be considered while applying for an instant PAN card through Aadhaar. The applicant needs to compulsorily have a legitimate Aadhaar number that has never been linked to another PAN before.
An instant PAN card is just a few simple steps away:
incometaxindiaefiling[.]gov[.]in
. As per the income tax Department, an instant PAN card not only stores an individual’s demographics like name, date of birth etc., but also possess bio metrics of an individual-signature and scanned photograph. Documents required for an instant e-PAN card are Voter ID/Aadhaar as identity proof, electricity bill as an address proof and driving license/passport as an age proof. The Aadhaar number and the other provided details are verified by UTI Infrastructure Technology and Services Limited (UTIITSL) instantly.
Majorly assisting with state-of-the-art technology and outsourcing services to the financial and government sectors of India, UTIITSL is a government company established under section 2(45) of the Companies Act 2013 and registered under the Companies Act 1956. It leads the Market with Mutual Fund distribution and sales, PAN card issuance/printing(on behalf of Income Tax Department of India, CBDT), PAN verification and many more financial services. PAN cards are a crucial document as they are required to file IT returns and TDS/TCS. Also, PAN cards are needed to withdraw or deposit more than Rs. 50,000 from or to any Bank account respectively. For big-ticket sales and purchases, PAN cards are a mandatory document.
To check the status of e-PAN:
The instant PAN can be applied by visiting the official website of the e-Filing of the Income-tax department at incomtaxindiaefiling.gov.in. People can easily apply for instant PAN using Aadhaar-based e-KYC. It is issued in a soft copy format, which is free of cost. It takes just 10 minutes to get an e-PAN. The e-PAN has validity equal to a PAN card (hard copy).
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