How to get e-PAN instantly

Income Tax Department recently introduced a new mode of application for pan card. It is called e-PAN which help us to get e-PAN instantly. 

In this article, we are trying to narrate hoe to get the e-PAN instantly and related facts about PAN.

PAN using as a medium to store and retrieve the financial transactions of the individuals and it has a vital role in the development of the country.

Sources revealed that India’s main limitation with regards to the direct tax collection revenue is the small tax base. 

Only 7.4 % of the adults file or pay income tax. This rate is very less as compared to the population. Bringing more population to the taxpaying group will definitely help us to grow in new heights. 

PAN Card is a laminated card with a unique identification number, name,Date of Birth, signature and the photo of the person in the case for an individual.

PAN card uses as proof of identity and Date of Birth for many institutions across India.

What is e-PAN Card?

E-pan card is a digitally signed pan card. Hence, the Income Tax Department issues it in electronic format by using Aadhaar e-KYC. Aadhaar e-KYC is a service, provided by the Unique Identification Authority of India (UIDAI) for verification of Know Your Customer details of Aadhaar holder. 

The Income Tax Department uses the e-KYC for verification and issue of the instant pan.

Permanent Account Number

The Permanent Account Number (PAN) is a ten-digit alphanumeric. As the PAN number is unique, the same once issues, will not issue again.

We need to quote PAN number whenever we make the financial transaction as notified by the income tax authority. So PAN acts as storage for all tax-related information of the persons.

Alphanumeric of PAN Represents

  1. First, Second & Third Characters 

Fist three letters are alphabets from A to Z.

Example: AAA or AFK

2. Fourth Character 

This alphabet is symbolizing the status of the holder of the pan card. 

We can see the below-mentioned characters which denote the status of different persons. 

Individual – A 

Company – C 

Hindu Undivided family-H 

Partnership firm -F 

Association of person -A 

Trust -T 

Body of the individual -B 

Local Authority -L 

Artificial juridical person -J 

Government – G 

3. Fifth Character

The fifth character in the PAN number represents the first alphabet of your last name or surname. If your name is Vinod Pottayil, the fifth character in the PAN will be P.

Suppose the name change happens once you got issued a PAN card will change the letter.

4. Sixth to Ninth Characters

Sixth to Ninth Characters are numbers from o to 9. Eg. 1234
The system selects these numbers arbitrarily.

5. Tenth Character

The tenth character in the PAN number is an alphabet check digit.

Who needs the PAN card

Any person earning an income which is taxable as per the Income Tax Act in India need to obtain a PAN card. 

Person includes any natural persons, companies, NRIs, foreign companies etc. PAN card is mandatory for those persons who need to file income tax with the Income Tax Department or to get a refund or for filing a return for others. 

Pan Card is Compulsory in the Following Cases

 

  1. When you purchase or sell a motor vehicle except for motorcycle, required to quote PAN number. 
  2. When you apply for a credit card, the bank may ask your PAN card number. 
  3. Apply Bank Account, Demat Account, Mutual Funds, Debenture, Bond etc. 
  4. Cash payment exceeding 50000 at any one time 
  5. When you pay your hotel or restaurant bill for an amount exceeding INR 50000 in cash 
  6. When you pay cash for foreign travel expenses or buying Foreign Currency for an amount exceeding INR 50000 
  7. Deposit cash in banks exceeds 50000 in a day  
  8. Cash payment over INR 50000 for DD, PO, bankers cheque including cooperative bank 
  9.  When you start a fixed deposit over INR 50000 at one go or aggregate of a fixed deposit of the individual is exceeding INR 500000 during Financial Year.
  10.  Payment of more than INR 50000to one or more prepaid payment instruments
  11. Payment of more than INR 50000 as life insurance premium in Financial Year 
  12. Sale or purchase of stock or shares of unlisted companies for an amount exceeding INR 100000 per transaction, by persons
  13.  Sale or purchase of any immovable property of an amount exceeding 1000000
  14. Any type of Sale or Purchase of goods or services, not included in the above list, above for an amount exceeding INR 200000 per transaction 
  15. Your minor child can also quote your PAN. But your minor child is having an income chargeable to tax, he /she should apply for a PAN number for their name.

Therefore, if you don’t have a pan, you can do the transaction in almost all the cases provided that you need to submit form 60 declaration.  

Central, State, consular are not required to mention the PAN number. There is some exception available to NRI also. 

The Alternatives for PAN card

  1. Income Tax Department allowed citizens to file two alternatives in case the pan card is not available presently. 

These alternatives are 

  1. Form 60
  2. Aadhaar 

Form 60

Form 60 is a declaration signed by a person in case the non-availability of PAN card.

By signing this form, the person is declaring that he does not hold a pan card and his income is limited, which is below the taxable amount.

This form is available to only those people who don’t have a pan card. Declaration of Form 60 by holding a PAN card may invite a fine of 10000 u/s 272B of ITA. 

A person other than the firm and company can submit the Form 60. This form also asks some details like the estimated total income of the individual. 

Aadhaar

From 1st September 2019 onwards, the new rule has come to force that we can use PAN and Aadhaar interchangeably.

Suppose you don’t have a PAN, you can use your Aadhaar instead of PAN. So the Income Tax Department may generate a PAN for you.

In case the pan already allotted, then you can quote Aadhaar instead of PAN provided that you have linked both. 

How to get your E-pan card instantly

In India, UTI Infrastructure Technology And Services Limited (UTIITSL) and NSDL e-Governance Infrastructure Limited (NSDL e-Gov) are the only service providers, authorized by Income Tax Department of India for processing, issuing, and printing of PAN Cards. 

Applying and receiving a PAN card is a process which may force us to wait at least 15 days to get it to reach us after the application submission.

  • We need to visit the pan service centre 
  • Collect the application form. 
  • Fill and submit along with the fee.  
  • And wait for at least 15 days.  
  • The PAN card will reach us by post.

But the introduction of Aadhaar and E-KYC enabled us to instantly receive the pan number by sitting in our home or office by a computer or laptop.

The below-mentioned steps to follow the plan card instantly

  1. Go to the link https://www.pan.utiitsl.com/PAN/ 
  2. Click PAN Card as Indian Citizen/NRI. 
  3. Click “Apply for new PAN Card (Form 49A). 
  4. Select “Digital Mode”. By this option, the applicants don’t need to submit any physical copy of documents.  
  5. Check the “Aadhaar Based based e-KYC option, so it automatically selects eSign Mode also 
  6. if you want both physical PAN Card to reach your address and e-PAN,You need to select “Both Physical Pan Card and e-PAN” in PAN Card Mode at the bottom of the screen; or select “e-PAN only, No Physical PAN card will be dispatched”. 
  7. Once you submit, the system instantly generates a 12 digit Reference Number. This number will be used for future reference until the application number generated.  
  8. The applicant needs to fill basic details. After you submit the application and pay the required fee, the Aadhaar authentication will take place. 
  9. The OTP will send to the registered mobile number.  
  10. You need to upload a scanned copy of the signature 
  11. You will get the 15 digits number as acknowledge number to the registered mobile number 
  12. After the processing, you will get an e-PAN card to your email id which you provided in the application 

Requirements Keep Ready before processing for e-PAN

  1. An active Aadhaar card 
  2. Updated active mobile number in Aadhaar 
  3. If the name in Aadhaar written in initials, need to change it in Adhaar as PAN application does not allow initials 
  4. Ensure all the data in Aadhaar is correct ( Name, Date of Birth, Gender, address ). 
  5. Scanned image of applicant’s signature with the following specification 
  • Resolution – 200 DPI
  • Type-Colour
  • File type- JPEG
  • Size of the file – Maximum 10KB
  • Dimension of signature– 2cm X 4.5 cm 

Requirements Keep Ready before processing for e-PAN

Here, we discussed what PAN number is and how to get e-PAN instantly without filing a physical, signed application form.

We can apply and receive the e-PAN cards will help us to save time and other resources to a great extent.

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