The tax department, on 29th June, launched the facility of e-PAN for a real-time basis. It’s a move which is expected to reduce perpetual interaction with the department and help tax-payers generate the permanent account number (PAN) without any hassle.
The facility is free of cost and you can log onto the income tax portal to generate e-PAN. It is available for resident individual taxpayers and not for Hindu undivided family (HUF), trusts, firms, and companies. It is open for a limited period of time and it is first-come, first-serve for valid Aadhaar holders. You will not need to submit any documents. The e-PAN will be generated using the details available in Aadhaar. So, you need to make sure that these details are updated because the e-KYC will be done using the Aadhaar database.
“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 easier for managing their tax affairs,” said Kuldip Kumar, partner & leader, personal tax at consulting firm PwC India.
