New Delhi: It can’t get better than this. Paying your income tax via smartphone and getting a Permanent Account Number (PAN) in less than 5 minutes is no longer a dream. It is a reality, and this will happen soon.
The Central Board of Direct Taxes is working on a plan that will ensure that you get PAN on a real time basis. This will happen by using Aadhar’s e-Know Your Client facility, which allows verification of personal details and address using biometric identification features (thumb impression for example).
This plan is part of the CBDT initiative to make life easy for tax payers. CBDT has argued if SIM cards can be issued using e_KYC, why can’t same be done for PAN. Under the plan, PAN will be issued within 5 minutes, while card will be sent later.
The CBDT is developing an App which would allow you to pay your taxes online, track your returns and apply for PAN. Tough online services exist, but the App will make life much easy, especially for the young taxpayers.