Have an Aadhaar card? At incometaxindia.gov.in, use it to apply for an Instant e-PAN

Have an Aadhaar card? At incometaxindia.gov.in, use it to apply for an Instant e-PAN

There are specific documents that you must have in order to confirm your identification and to receive government benefits. Aadhaar Card is one of these papers. Permanent Account Number (PAN card), and Voter ID are just a few examples. Do you have them all? If not, you can apply for all of these IDs by visiting the relevant websites. If you have an Aadhaar card, you can apply for an e-PAN with your Aadhaar number. It should be noted, however, that this service is only available if you do not have a PAN but do have a valid Aadhaar card and your KYC information is up to date.

The Unique Identification Authority of India (UIDAI) issues Aadhaar cards, which can be used to gain benefits such as submitting Income Tax Returns, opening a bank account, and so on. The Income Tax Department is in charge of issuing the PAN Card. For the uninitiated, an e-PAN is a digitally signed PAN card issued by the Income Tax Department in electronic or digital format.

You should be aware that quoting your PAN when filing your income tax return is required. If you do not yet have a PAN, you can get an e-PAN by using your Aadhaar number and a mobile number associated with your Aadhaar. Additionally, generating an e-PAN is a free, online process that does not require you to complete any documents.

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Step-by-step instructions on how to apply for an e-PAN using Aadhaar.

Step 1: Go to the Income Tax Department’s official website or go to the https://www.incometax.gov.in/iec/fo portal.

Step 2: From the homepage, select the ‘Instant E-PAN’ option from the ‘Quick Links’ area.

Step 3: A new page will open; select ‘Get New e-PAN’ from the drop-down menu.

Step 4: Next, for PAN allocation, input your Aadhaar number and check the ‘I confirm that’ box before pressing the ‘Continue’ button.

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Step 5: On your registered mobile number, you will receive an Aadhaar OTP. You must enter the OTP in the appropriate field and then click the ‘Validate Aadhaar OTP and Continue’ button.

Step 6: Click the Continue button after accepting the terms and conditions on the OTP Validation screen.

Step 7: Enter your OTP, check the box, and press the Continue button again.

Step 8: If your email ID has not been authenticated, click Validate email ID, enter your credentials, and click the Continue button.

Step 9: After you submit your Aadhaar details for validation, you will be granted an acknowledgment number. Entering your Aadhaar number will allow you to check the status of your PAN allotment.

Step 10: To download the e-PAN, complete the first two steps, then click the ‘Check Status/Download PAN’ option, enter your Aadhaar number and captcha code, touch the Submit icon, validate by entering the OTP, and finish the process.

Step 11: If the PAN allocation was successful, a PDF file link will be sent to you within 10 minutes.

Latest Updates

Latest Business Update

1. Income tax department makes it mandatory to link your PAN with Aadhaar by 30th June 2021. If not linked, the PAN will become invalid. This will attract a higher TDS rate and may impact your financial transaction. Link your PAN with Aadhaar.

2. Apart from the above, by virtue of Section 139AA(2) of the Act linking of Aadhar with PAN within the prescribed timelines is mandatory. In case of non-linking the existing PAN issued shall be considered as inoperative and TDS shall be deducted at the higher rate as applicable in case of a person who does not have PAN i.e. @ 20%.

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3. The Finance Minister on 1 February 2021 has introduced a new Section 206AB vide Finance Act 2021. This Section is applicable for FY 2021-22 w.e.f. 1 July 2021. This amendment has been introduced to ensure filing of return of income by those persons who are required to file the return of income but are willfully not filing return of income.

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4. Sebi came out with fresh guidelines on reporting formats for mutual funds. The formats for the reports to be submitted by asset management companies (AMCs) to trustees, by AMCs to Sebi and by trustees to the regulator have been revised on the basis of consultation from the industry.

5. Mandatory Registrations for NGOs after 01.04.2021 – Form CSR-1, Section 80G and Section 12AB of Income Tax Act. As per the notification issued by the Ministry of Corporate Affairs dated 22nd January 2021, it is mandatory for all NGO’s which wants to raise CSR Funding to enrol with MCA w.e.f 01/04/2021 to get CSR funding. And Filing of Form CSR-1 has been started on the MCA portal and a huge number of NGOs has already enrolled with MCA.

Today’s Updates:Due Date for Deposit of Advance Income Tax

Today’s Updates:Due Date for Deposit of Advance Income Tax

  • Changes in New Income Tax Portal from 7 June, Pay Tax via Credit Card. Launch of new e-filing Portal of the Income Tax Department – Non-availability of e-filing services from 01.06.2021 to 06.06.2021.
  • The new e-filing portal is aimed at providing taxpayer convenience and a modern, seamless experience to taxpayers: New taxpayer friendly portal integrated with immediate processing of Income Tax Returns (ITRs) to issue quick refunds to taxpayers;
  • Govt Integrates E-way Bill with FasTag, RFID; GST Officers to Have Real-time Data of CVs (GST officers have been armed with real-time data of commercial vehicle movement on highways with the integration of the e-way bill (EWB) system with FasTag and RFID, a move which will help in live vigilance of such vehicles and check GST evasion)
  • Ministry of Finance had issued Office Memorandum dated May 24, 2021 regarding Constitution of Group of Ministers (GoM) on Casinos, Race Courses and Online Gaming. The terms of reference shall be as follows:
  • To examine the issue of valuation of services. Taxability of certain transactions in a casino, with reference to the current legal provisions and orders of Courts on related matters. To examine whether any change is required better means of valuation of these services in the legal provisions to adopt any better means of valuation of these services. To examine the administration of such valuation provision if an alternative means of valuation is recommended.
  • Due Date for Deposit of Advance Income Tax is 15-06-2021. You are requested to please deposit 15% for 1st instalment on or before 15-06-2021* to avoid interest on income tax not allowable as expense, However Bank interest paid on advance tax is allowable as expense.
  • Last date for linking PAN with Aadhar extended from 31.3.2021 to 30.6.2021.
  • Ensure Aadhar seeding for all PF members as wef 1.6.21 ECR filing only for those whose Aadhaar numbers are seeded & verified with UANs.
  • Union Cabinet approves Model Tenancy Act for circulation to the States/Union Territories for adoption
  • The Union Cabinet, chaired by the Prime Minister Shri Narendra Modi has approved the Model Tenancy Act for circulation to all States / Union Territories for adaptation by way of enacting fresh legislation or amending existing rental laws suitably. It will help overhaul the legal framework with respect to rental housing across the country, which would help spur its overall growth.
  • 30.6.21 is extended due date to file TDS Statements in 24Q, 26Q & 27Q for March quarter of 2021. TDS Certificates can be issued by 15.7.21.
  • EPFO allows its members to avail second COVID-19 advance. Under this provision, non-refundable withdrawal to the extent of the basic wages and dearness allowances for three months or up to 75% of the amount standing to member's credit in the EPF account, whichever is less, is provided. Members can apply for lesser amount also.