Paying tax or getting a new PAN soon to be plain sailing

As the country is moving forward towards cashless transactions and digitisation, Central Board of Direct Tax (CBDT) will not lag behing. It may soon introduce Aadhaar based instant PAN issue along with a new app to pay taxes through smartphones. 

At present mobile sim cards are getting issued through e-KYC, the Finance Ministry is also talking in the same line. The goal is to verify information using Aaadhaar and Thumb impression to instantly generate PAN numbers and then deliver the cards later to taxpayers. This service may be innaugrated as soon as a few weeks, where it should take five to six minutes to sanction and issue one PAN card.

CBDT and the ministry of corporate affairs have already joined hands to issue PAN to the new companies incorporting through a combned form in about four hours. The moto behind this initiative is to generate real-time PAN, which will also be considerd as the business identification number for the companies. 

On the other hand, the tax department is also developing a mobile smartphone enabled app that will help the taxpayers pay taxes online. this will also help in avail many other services including applying new PAN or tracking tax return status. The department already has a live website to provide several services online through its portal ,launching an app will definitely make these processes simpler for young and senior taxpayers.