Permanent Account Number (PAN), over the years, has become one of the most essential documents issued by the Income Tax Department of India. From bank-related works to stock market exchanges, clearly one need a PAN Card for various purposes. So it’s is better to have it handy. And to make the process easy for you, the IT department has launched a new way to get a PAN card within a few minutes only.
However, one should note that the facility, as of now, is only available to people who have an Aadhaar Card.
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Using the new service, a person can get a new PAN card in the form of PDF and e-PAN in 10 minutes without the need to pay any service fee. E-PAN works just like an Aadhaar card and can be stored in DigiLocker too.
Here’s how you can get a new PAN card online instantly:
- Go to the official e-filling website.
- There, find and click on ‘Instant PAN Through Aadhaar’
- Next, click on ‘Get New PAN’
- Fill in your Aadhaar credentials
- You will receive an OTP on your registered mobile number.
- Once the OTP is validated, an e-PAN will be issued to you.
For the unaware, a PAN card is a necessary document. It is required for various services like:
Credit Card – Anyone who seeks to file the form for a Credit card must hold a PAN card.
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For TD or FD – a PAN card is required if you buy any securities or mutual fund units worth more than Rs 1 lakh.
Real Estate – When buying property worth Rs 5 Lakh or above, PAN is mandatory.
Insurance Premium – If you deposit a life insurance premium of more than Rs 50,000, then a PAN card is necessary.
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Rs 50,000+ transaction – PAN card is required if required here too.
Tax Returns – While filling an income tax return, it is important to link your PAN Card with your Aadhaar card.