Finance Minister launches facility of Instant PAN through Aadhaar based e-KYC

 Circular No. ES/165/2020-21                                         29th  May, 2020         

 

To : Members of the Council

 

Sub: Finance Minister launches facility of Instant PAN through Aadhaar based e-KYC

 

Dear Member,

 

In line with the announcement made in the Union Budget, the Union Minister for Finance & Corporate Affairs, Smt. Nirmala Sitharaman has officially launched the facility for instant allotment of PAN on near to real time basis which was issued vide Press Release on 28th May, 2020 by the Ministry of Finance.

 

This facility is now available 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.

 

Though the above facility has been launched on 28th May, 2020, its ‘Beta version’ on trial basis was started on 12th February, 2020 on the e-filing website of Income Tax Department. Since then onwards, 6,77,680 instant PANs have been allotted with a turnaround time of about 10 minutes, till 25th May 2020.

 

It may also be noted that as on 25th May 2020, a total of 50.52 crore PANs have been allotted to the taxpayers, out of which, around 49.39 crore are allotted to the individuals and more than 32.17 crore are seeded with Aadhaar so far.

 

How to apply for instant PAN?

 

  • The process of applying for instant PAN is very simple. 

  • The instant PAN applicant is required to access the e-filing website of the Income Tax Department to provide her/his valid Aadhaar number and then submit the OTP received on her/his Aadhaar registered mobile number.

  • On successful completion of this process, a 15-digit acknowledgment number is generated.

  • If required, the applicant can check the status of the request anytime by providing her/his valid Aadhaar number and on successful allotment, can download the e-PAN. 

  • The e-PAN is also sent to the applicant on her/his email id, if it is registered with Aadhaar.

The launch of the Instant PAN facility is yet another step by the Income Tax Department towards Digital India, thereby creating further ease of compliance to the taxpayers.

 

Members may kindly make a note of the above.

 

Thanking you,

 

Yours faithfully, 

 

S.BALARAJU

EXECUTIVE DIRECTOR 

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