PAN stands for Permanent Account Number.  The PAN issued under the Income Tax Act is of great importance. This PAN is inevitably sought or insisted upon in filing income tax returns, opening a bank account, obtaining a bank loan, registering a property purchase, traveling abroad. Getting this PAN card currently takes from 15 days to 1 month. In addition to this, one has to pay Registaration Fees of Rs110/-

The facility to get PAN from Aadhaar immediately (in about 10 minutes) has been launched by Finance Minister Nirmala Sitharaman on 28 May 2020. This facility is being referred to as "E PAN" -: Instant PAN - Convenience. Everyone who has Aadhar card and has their mobile link in that Aadhar card will be able to get this facility. Let us know what is this newly launched facility

Important details about E PAN:

1. It is mandatory for the applicant to have Aadhaar card before applying for E PAN. This Aadhaar card should not be linked with any other PAN.
2. Their mobile phone should be linked in this Aadhaar card.
3. There is no fee to pay for this E PAN to the government or their agencies. Yes, it is important to know that usually the person performing the service / application for this PAN card charges his own fee in this regard.

Procedure for obtaining E PAN:

1. Go to https://www.incometaxindiaefiling.gov.in/e-PAN/index.html?lang=eng
2. Entering the Aadhaar card number on this link will result in an OTP (One Time Password) on the mobile number registered in the Aadhaar card.
3. Completing a simple procedure after inserting this OTP will generate a 15-digit “acknowledgment” (access).
4. The applicant will be able to view his / her application status at any time from this acknowledgment number. Attempts will be made to issue the PAN to the applicant after a time of approximately 10 minutes.

About E PAN:

• This PAN will be in PDF format. This PDF print will be considered valid like PAN card.
• This PAN will also be sent in the e-mail of the applicant whose e-mail is registered in the Aadhar card.
• No other evidence will be required in this application. You don't even have to give a photo.
• This method will only be for obtaining a new PAN. This method will not be useful for those who have a PAN and want to add or modify it.

This facility will make it much easier to get a PAN now. The E PAN scheme was announced by the Finance Minister in this budget. The budget also announced that those who do not have a PAN will be able to issue their own Aadhaar card instead of a PAN. How successful the plan is to be able to use Aadhaar instead of this PAN will be known in the near future.