Podcast: How to get an e-PAN using your Aadhaar card
Aadhaar, as we know, is being promoted by the central government in a big way. The latest move is a short-term online service for the immediate allotment of a permanent account number, or PAN, to individuals who have an Aadhaar ID.
Individuals who do not have a PAN number can log on to the website incometaxindiaefiling.gov.in, which is run by income tax department, to get what they’re calling an instant e-PAN. A senior income tax department official told the media that the new facility has been introduced to deal with the increasing number of applications by individuals for a Permanent Account Number.
Permanent Account Number, or PAN, is a 10-digit alphanumeric number allotted by the I-T department to a person, firm or entity. It is mandatory to have a PAN if you are undertaking financial transactions like receiving salary, professional fee and sale or purchase of assets above specified limits.
A PAN card also serves as a nationally accepted identity proof for its holder. It also helps with certain purchases.