Wednesday, July 8, 2020

Facility for instant PAN allotment via Aadhaar - All you need to know

pan - aadhaar image

The Finance Minister of India, Ms Nirmala Sitharaman, had declared that the government would soon introduce a facility to allocate PAN (Permanent Account Number) cards instantly using Aadhaar based eKYC. This announcement was made during the presentation of the Union Budget earlier this year. The facility to allot instant PAN cards was officially launched on the 28th of May 2020. The process of allotment is paperless. The ePAN (electronic PAN) is issued by the Income Tax (IT) department of India and you do not have to pay any fee as charges for application. All residents in India with a valid Aadhaar number and a mobile number linked to that Aadhaar are eligible to apply for an ePAN.

ePAN And Its Allotment Through Aadhaar Based eKYC 

  • ePAN is a PAN card issued in the electronic format and it is digitally signed. 
  • This is issued by the IT Department of India.
  • Before the ePAN is allotted the identity and address of the applicant are verified through Aadhaar based eKYC. 
  • Aadhaar eKYC is provided by the Unique Identification Authority of India (UIDAI) and its an online service.

Mandatory Requirements For An ePAN

  • Should be an Indian citizen.
  • Must have a valid Aadhaar card.
  • The Aadhaar card and the mobile number of the applicant must be linked.
  • Must apply for PAN (Form 49A).
  • Minors and other people mentioned under section 160 of the IT Act of 1961 are not eligible for ePAN.
  • No foreigners can apply for this instant PAN.

Additional Requirements

  • A scanned image of the applicant’s signature has to be uploaded. Make sure you stick to the specifications given. 
  • Colour image, 200 DPI resolution, JPEG file and the maximum size should be 10 KB, and the dimension of the signature should be 2 cm x 4.5 cm.
  • Scanned photograph of the applicant is not required

The following is not required while applying for an ePAN:

  • Proof of Aadhaar.
  • The process is entirely paperless therefore a physical copy of KYC is not required.
  • No additional documents are required.
  • No in-person verification.
  • There are no charges involved.

ePAN Allotment Using Aadhaar eKYC: Are There Any Specific Centers That You Should Approach?

  • No. Only e-Filing is allowed.
  • You can apply for ePAN through the official website
  • The ePAN is issued following an Aadhaar based eKYC.
  • The eKYC is carried out through the process of Aadhaar authentication.
  • The details of the Aadhaar holder is submitted to the UIDAI (The Aadhaar issuing authority) to get a confirmation regarding her/his identity.

OTP Based Aadhaar eKYC

  • An OTP based Aadhaar verification takes place.
  • Resubmit for Aadhaar based eKYC in case you fail to receive the OTP in time.
  • An OTP may be generated any number of time.

Cases That Could Lead To Rejection Of Aadhaar Based eKYC

  • When the fields in the application for PAN and Aadhaar fail to match (Name, address, date of birth, gender etc).
  • The OTP submitted is incorrect.
  • Aadhaar based eKYC could also be rejected in case initials are used to represent the first name of the individual on the Aadhaar card. 
  • Initials are not allowed in a PAN application, therefore, it will lead to a mismatch.
  • Make sure you update all these details before applying for an ePAN

You’ll receive the ePAN in almost real-time. You can download it from the e-Filing portal by submitting the 15 digit acknowledgement number that you receive following the successful submission of ePAN application.

For more information contact us.
We, Finahub, are experts in Aadhaar related products and services like eSign, eKYC, Authentication, etc. If you want to know how your enterprise can start using it, please give us a call  @ 0484 2388285 or email us at [email protected]