Usually, to get a new PAN card, you need to fill an application and submit it. This application is then processed for a few days, after which your PAN card is issued. Now, the government has simplified this process for the general public.
The IT department has launched a new facility where anyone who has an Aadhaar card can easily apply for a PAN card online, the process will be just a few minutes at tops. After which, you will be issued your PAN card instantly, within 10 minutes in PDF format. This e-PAN card can be used just like a physical card.
You need to follow the following steps to apply for your online e-PAN card:
Step 1: Visit the e-filing portal, https://www.incometaxindiaefiling.gov.in/e-PAN/
Step 2: Click on the 'Instant PAN through Aadhaar’
Step 3: Now, select ‘Get New PAN’
Step 4: Give your Aadhaar card number as asked
Step 5: An OTP will be sent on the registered mobile number
Step 6: Once the OTP is validated, an e-PAN will be issued to you.
Apart from the e-filing portal, you can also get your PAN Card made through NSDL and UTITSL. Although the former portal is free, the latter will send you your PAN card for some nominal fee.
You need your PAN Card if you want to do the following tasks:
1) Real Estate purchase- If you are planning to buy an immovable property that is Rs 5 lakh or above, then you must provide an Aadhaar card.
2) Credit Card- It is mandatory to provide a PAN card in any post office savings account as well as for credit card and debit card applications.
3) Insurance Premium- If your life insurance premium amount is more than Rs 50,000, then a PAN card is required.
4) Transactions above Rs 50,000- If you are filing an income tax return, then you must link your PAN card and Aadhaar card.
5) Pay order or bankers cheque- PAN card is also needed for a cash purchase of bank draft, pay orders, or bankers cheque of Rs 50,000 or above in a day.
6) For TD or FD- If you buy any securities or any mutual fund units worth more than Rs 1 lakh, then a PAN card is required.
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