Pressing onto digital India, the Central Board of Direct Taxes is preparing to issue PAN card on the real-time basis by making use of the e-KYC facility of Aadhaar card. Also, a smartphone application is being expanded to pay income tax online, and it will also have different services such as applying for PAN card and keeping record of tax returns.
The government of India has taken one more remarkable step towards the Digital India campaign with the association of the Income Tax Department. A few days before, IT department publicized its new application Aadhaar e-KYC that allows a user to get PAN card only in five minutes. With the help of this application, taxpayers can pay their taxes via their smartphones. The Central Board of Direct Taxes and IT department is working on this plan that would assist people to find about their PAN card within a few minutes in place of 2 to 3 weeks. When Aadhaar based e-KYC application will come into practice the PAN card will be issued within five minutes. Presently, with the standard method PAN card takes 45-60 days to be issued, but now IT department is preparing to issue PAN card is five minutes just like a SIM card. The income tax Department of India will do so with the help of e-KYC verification system of Aadhaar, which will validate the obligatory information such as permanent address, date of birth, by using thumb impressions.
By using the facility of e-KYC of Aadhaar card, the Central Board of Direct Taxes is preparing to issue PAN card in real-time. Under this method, applicants will obtain their PAN number within five to six minutes. The IT Department is working on an application to pay their income tax, check IT returns, and apply for PAN card.
The Central Board of Direct Taxes and The Corporate Affairs Ministry have joined their hands in this scheme to provide a PAN to companies via a joint form in four hours. The PAN card number will be given in five minutes, but its delivery will take one to three weeks. The cause behind this application is to make the procedure of paying tax easier for senior citizens as well as young taxpayers. The Aadhaar e-KYC application is at its initial stage and will be introduced after the support of Finance Ministry.
As our honorable Prime Minister always said that he wants to make India the digital India and took all feasible steps to make it a truth. Currently, different banking applications are started in India after expression now, Aadhaar e-KYC application; it appears that the dream of digital India will almost immediately come true. Aadhaar e-KYC application is a big revolution, Income Tax Department and if sources are to be believed soon people and businesses can apply for PAN card, tax returns and go through the tax information in their smartphones. This application is designed by the in-house team of CBDT due to security issues, and no outer agencies are involved in the growth of this application.
By Aadhaar’s e-KYC facility, applicants of the PAN card will be capable of verifying their details through biometric identification attributes like thumb impression. According to the report of Times of India, an official validated that this method will take five to six minutes as opposite to two to three weeks time that is needed now. Under this new method the PAN number will be provided first and real card will reach your destination later.
We all know PAN card is a very essential document and without this simple card we cannot make transactions of Rs 50,000 and above. Presently, in India there is more than twenty crore people have their PAN card and only eleven crore people have their Aadhar cards, so it will be defying for the government to fill this gap initially otherwise there will be no use of this application. On 1 January 2017, the income TAN department has initiated distributing the newly planned PAN cards having safety attributes and the content of the card marked in both English and Hindi language.
The Central Board of Direct Taxes has also joined with the Ministry of Corporate Affairs to issue PAN cards in four hours to new companies integrating through a combined form. This PAN will also be the business verification number for these organizations.
Also Read: Importance of PAN Card in India
The IT department is also working on an application to make the tax paying easier by making the process online. This application will also have different facilities to help seniors as well as young taxpayers to pay their tax, check returns, and also apply for PAN card. Referencing the source, the same report verified that both the projects are in-house and that directorate of systems is synchronizing with the Central Board of Direct Taxes.