Thursday, November 21

Tax Dept Launches Prompt e-PAN on The Basis of Aadhaar

India’s tax department has now launched the provision of e-PAN occurring immediately. This move is anticipated to bring down the interaction with the department and assist the taxpayers in creating the permanent account number (PAN) without facing any difficulty.

This provision of the tax department is totally free of cost and the taxpayers can log on to the income tax portal to create their e-PAN. The people are not required to submit any documents, instead, the e-PAN will be generated on the basis of details available in the user’s Aadhaar card.

“Thanks to the elevated use of technology and digitization adopted by the government in the tax department, it is now resulting in truly convenient and paperless interface with taxpayers. One may expect more of such initiatives in the coming days, which will make the life of taxpayers more easy for managing their tax affairs,” said Kuldip Kumar, partner & leader, personal tax at consulting firm PwC India.

However, the service is available only for the individual taxpayers and not for the Hindu undivided family (HUF), firms, trusts and companies. Also, it is open only for a limited time period on a first-come, first-served basis for valid Aadhaar holders.

The Aadhaar holders should make sure that all the details are updated as the e-KYC will be done using the Aadhaar database. After the success of the KYC procedure on the basis of Aadhaar OTP, the process of e-PAN application will be introduced.

In this process, the user needs to upload a scanned copy of your signature on a white paper with the specifications given on the income tax website. After filing the application, a 15-digit acknowledgment number will be generated and sent to the mobile number/ email registered in the application form. This is how the taxpayers can make use of the new service launched by the tax department.