Summary The facility is a paper-less, free of cost and on a real-time basis. As per the income tax department, the turn-around-time of alloting an e-PAN is 10 minutes on a real-time basis.
The is a paperless, real-time basis facility. As per the income tax department, the turn-around time of allotting the PAN through this facility is 10 minutes. Only those applicants who have a valid Aadhaar number and have a mobile number registered with Aadhaar can use this facility. This electronic PAN (e-PAN) will be issued to applicants free-of-cost, the department said on its Twitter handle.
Hon’ble FM Smt @nsitharaman formally launched the facility for instant allotment of PAN through Aadhaar based e-KYC… https://t.co/pDHW2D5vzu— Income Tax India (@IncomeTaxIndia) 1590664203000
The launch has come after the initial announcement was made in the Union Budget 2020. While making the announcement, FM said, "In the last Budget, I had introduced the interchangebility of PAN and Aadhaar for which necessary rules were already notified. In order to further ease the process of allotment of PAN, soon we will launch a system under which PAN shall be instantly alloted online on the basis of Aadhaar without any requirement for filing up of detailed application form."
The ‘Beta version’ of Instant PAN allotment facility was started on trial basis in Feb2020 on e-filing website of I… https://t.co/nAH46mQaYT— Income Tax India (@IncomeTaxIndia) 1590664205000
Since the launch of 'Beta version' on trial basis on February 12, 2020, 6.77 lakh instant PANs have been allotted till May 25, 2020. Further, as on May 25, 2020, a total of 50.52 crore PANs have been allotted to taxpayers, out of which around 49.39 crore are allotted to individuals and more than 32.17 crore are have been seeded with Aadhaar so far, said the finance ministry's latest press release.
How to use this facility
The instant PAN applicant is required to visit 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 their valid Aadhaar number and on successful allotment, can download the e-PAN. The e-PAN is also sent to the applicant's email address, if it is registered with Aadhaar.