The Permanent Account Number card was brought about by the Income Tax department of India to keep a track on the moves of the Indian taxpayers to deter disasters, corruption, and tax evasions. The e-PAN is a step ahead towards the development of the ongoing system of tracking finances. It is anticipated to be a contributing factor to push the economy forward by untangling the knots of financial transactions and making it a seamless process. Here is all you need to know about e-PAN.
What is e-PAN?
The e-PAN is a new endeavor of the Government of India as a step towards making the process of taxpaying simpler for novel taxpayers. Under this scheme, the base of taxpayers is increased in a limited period of time by granting them a new PAN card instantly. The Government, as well as the Income Tax department, believes that such a step will enable people to register for a PAN card in India. In addition to that, since financial transactions have become more secure due to the proof of authenticity, people are going for new PAN card apply and use in large numbers. Naturally, a new initiative like this one will make it simpler for the people to get the document quickly and without delay.
Who are eligible to apply for it and for how long?
Despite all these lucrative reasons, e-PAN will not be given to a person who is already a holder of PAN. This facility is only accessible to individuals, not companies. The process does not have a heavy cost involved, but it has been offered for a limited period of time. The facility can be availed by people on a first-come-first-serve basis. Anyone who wants one has to hurry up and avail it till it lasts. The service came into action on 29th June.
What are the details that are present on the e-PAN card?
There are a number of detailed information about the holder on a new PAN card through the e-PAN system. They are listed below:
- Permanent Account Number
- The name of the PAN card holder
- The date of birth of the PAN card holder
- The name of the father of the Account holder
- The gender of the PAN card holder
- Photograph of the cardholder for easy identification and authentication of the holder’s existence
- QR code for verification through the scanning process
- Signature of the cardholder for verification process
What are the eligibility criteria for applying for e-PAN?
There are a number of criteria that must be met by the applicant for a new PAN card. The necessary criteria are listed below:
- The applicant must be an Indian resident.
- The applicant must be an individual, not a company or Hindu Undivided Family (HUF).
- The applicant must be a taxpayer
- The applicant should not be a holder of a PAN card already.
- The SIM card used on the applicant’s phone must be linked to his Aadhaar card.
- The Aadhar card of the applicant has to be verified and the details in it should be up to date.
- The applicant should not come under Section 160 of The Income Tax Act of India.
What is the process of application for e-PAN?
A new PAN card application process is quite simple for people.
- Go to the official site of e-PAN
- Apply for a new PAN
- Choose the e-PAN option
- Fill in the mandatory details
- Verify the information and click on Submit.
- To close the request, the user needs to scan the signature on a blank paper. It has to comply with the following specifications:
Resolution: 200 DPI
Max Size: 10 KB
Dimensions: 2 cm x 4.5 cm
- After the ID process is done, a 15 digit acknowledgment number will be sent to the registered mobile number and email. This number facilitates checking the status of the e-PAN. Once the processing is finished, and the card is in downloadable form, you will be notified similarly.
- The e-PAN notifications will be sent to the applicant’s registered email id.
- Cross-check the details provided in it with your Aadhaar card.
- UTIITSL takes Rs 8.26 to download the e-PAN. The payment can be made online.
- The applicant must send a request for a reprint on the UTIITSL portal to download it.
- The time required for PAN revision and update into e-PAN is 30 days. It requires no document other than the Aadhaar card.