The recent introduction of e-PAN card aims at providing instant PAN allotment to new taxpayers. Here is everything you need to know about e-PAN and how to apply for it.
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The Income Tax Department of India issued the Permanent Account Number (PAN) as a unique identification number for taxpayers. This 10-digit alpha-numeric code allows taxpayers to carry out financial transactions and helps the department to track transactions and ensure correct payment of taxes.
The e-PAN card is a recent introduction made by the Income Tax Department for instantly allotting PAN to new taxpayers. The number of applicants has been increasing at a growing rate. Therefore, the e-PAN card helps in catering to those applicants instantly. However, e-PAN cannot be issued to those taxpayers who already hold a PAN.
As of now, e-PAN is being issued to only individual taxpayers. E-PAN can be availed for free on a first-come-first-served basis because it is only made available for a limited time period.
The following criteria must be fulfilled in order to be eligible for applying for an e-PAN card:
- Applicant should be an Individual Taxpayer
- Applicant should be an Indian Resident
- Applicant should not be holding a PAN already
- Applicant should have an Aadhaar
- Applicant should have an Aadhaar-linked active mobile number
- Aadhaar details of the applicant should be updated and correct
The following steps can be followed to apply for an e-PAN card:
Step 1 – Go to the Income Tax e-Filing website of India
Step 2 – Click “Apply Instant e-PAN”
Step 3 – Go through the guidelines and click “Next”
Step 4 – Enter details exactly as provided in the Aadhaar card. Tick on the acknowledgement box and click “Submit”
Step 5 – By submitting the application, the process for e-PAN application will be initiated. Applicant should upload a scanned image of their signature with the specifications: resolution – 200 DPI, type – color, file type – JPEG, size – maximum 10 KB, and dimensions – 2 x 4.5 cm.
Step 6 – After the scanned copy is attached, the application will be complete. A 15-digit acknowledgement number will be sent to your e-mail address or mobile number as mentioned in the application. An alert will be sent via SMS once the e-PAN is allotted.
Step 7 – You can check the status of your e-PAN application by clicking “Check Application Status”.