We have yet another good news for all the Aadhar card holders. Aadhar card is going to bring a revolutionary change for all those people who want to apply for PAN or TIN. With the help of Aadhar card, Income Tax Department will issue PAN card in three days to the applicant. You will now get your PAN card within three days of applying for the same.
We have even better news for businessmen. They will be allotted TIN or PAN within 1 day of application. This superfast processing has become possible because of linking the Aadhar card system with that of the PAN and TIN. Central Board of Direct Taxes (CBDT) has taken this step to ease the practice of business and issue PAN/TIN to individuals or businessmen. PAN card is one of the most valuable proof of identity document which is accepted with open arms across the country because of the authenticity of the issuing authority behind it.
While applying for PAN on NSDL or UTISL website, online verification can be done using Aadhar number. With this initiative by CBDT, tax payers can submit their application by using digital signature without the need of any annexure. Those who do not have digital signature can apply via e-signature facility of Aadhaar.
At present, it takes around 15-20 days to get PAN card after applying on the website. But now with the Aadhaar number in process, online verification takes hardly anytime which reduces the entire processing time to just three days. Reports also claim that there are lakhs of people who are illegally having more than one PAN card. Introduction of Aadhaar based PAN application will eliminate such fraud activities from the system. Department has already cancelled 11 lakh forged PAN cards. So, if you Aadhar card but don’t have PAN card, just apply on the NSDL website and get your PAN card in just three days.