All of us know how important Permanent Account Number or PAN is. It is not only an identity proof but an important document for financial transactions and for filing income tax returns,now it is available in e-PAN | Digital PAN .
e-PAN is a valid proof of PAN. e-PAN has a QR code that possesses demographic details of PAN card holders such as the person’s name, date of birth and photograph. These details are accessible through a QR code reader and are duly recognized. 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.
PAN, the unique 10-digit alphanumeric number issued by the tax department is valid for lifetime and it can be obtained digitally as well. e-PAN is a digitally signed PAN card issued in electronic or digital format by the Income-tax department.
Every person has a business or profession with total sale, turnover, or gross receipts. That are likely to exceed Rs 5 lakh in any previous year has to obtain a PAN card. Additionally, every person who wants to carry on a specified financial transaction in which quoting of PAN is mandatory must also obtain a PAN card.
Instant PAN through Aadhaar based e-KYC – How to apply
– The process of applying for an instant PAN is very simple.
– The instant PAN applicant is required to access the e-filing website of the Income Tax Department to provide your valid Aadhaar number.
– Then submit the OTP received on your Aadhaar registered mobile number.
– On successful completion of this process, a 15-digit acknowledgment number is generated.
– You can check the status of the request anytime by providing your valid Aadhaar number and on successful allotment, can download the e-PAN.
– The e-PAN is also sent to you one your email id, if it’s registered with Aadhaar.
Existing customer also can download.