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Finance Minister Nirmala Sitharaman (File photo: ANI)
NEW DELHI: Finance Minister, as per the announcement made in the Union Budget Nirmala Sitharaman Thursday formally launched the facility for Immediate allocation of PAN (Permanent Account Number) Cards on a near-real-time basis.
This facility is now available for PAN applicants who have a valid Aadhaar number and who have a mobile number registered with Aadhaar.
The allocation process is paperless and an electronic PAN (e-PAN) is issued free of cost to the applicants.
According to an official statement, the introduction of instant PAN facility by the Income Tax Department (I-T) Department towards Digital India is another step, which can further ease the compliance of taxpayers.
As of May 25, a total of 50.52 crore PAN cards have been allocated to taxpayers, of which around 49.39 crore have been allocated to individuals and more than 32.17 crore have been basic so far.
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