Union finance minister Nirmala Sitharaman (File photo)
NEW DELHI: Now you can get a PAN allotted to you by the income tax (I-T) department instantly if you have an Aadhaar-linked mobile number. The new facility was launched by finance minister Nirmala Sitaraman on Thursday.
The instant PAN will be a paperless exercise where an applicant will be issued an e-PAN free of cost. The finance minister had made the provision for instant PAN in her Budget announcements in February.
A pilot project was run on the I-T department’s website and already 6.77 lakh instant PANs have been allotted with a “turnaround time of 10 minutes, till May 25”.
“As on May 25, a total of 50.5 crore PANs have been allotted to the taxpayers, out of which, around 49.4 crore are allotted to the individuals, 32 crore of them seeded with Aadhaar,” an I-T spokesperson said.
For instant PAN, applicants are required to access the e-filing website of the I-T department to provide their Aadhaar number and then submit the OTP received on their Aadhaar-registered mobile number.