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Even for apparently mundane work like applying for and verifying your PAN card application today’s digital era makes it a need to keep oneself updated with the latest trends and developments. The PAN card is issued by the Indian government; it is a very important document while conducting financial transactions and holds great importance for a lot of purposes such as opening a bank account, filing income tax returns, etc. In the following blog post, we’ll discuss some latest trends related to the domain.
1. Online PAN Card Application
Perhaps, most powerful trends of the previous two years are online applications of PAN cards. The facility has only made the entire process accessible and hassle-free by demanding much less from the end of the citizen. Avail this online facility for application of a PAN card both on the official portal of the Income Tax Department as well as through licensed service providers. In consideration of the online facility, there is minimization at the level of visitations when the time used while processing is saved at the very critical extent.
2. Aadhaar-Based e-KYC
Aadhaar-based e-KYC has further streamlined the application process of a PAN card and made it quicker. Now, you can link your Aadhaar number with your PAN application; later on, you can authenticate the same by way of biometric authentication. That is not only quicker to make the application procedure smoother but also makes the information more accurate.
3. Mobile Application for PAN Services
The government also launched mobile applications by which a user can apply for a PAN card, check the status of his application, and even edit or update the details of their existing PAN card. It has made it even easier for people to manage all PAN-related activities on the go with these mobile apps.
4. E-PAN Card
A newer addition is E-PAN card, which is an electronic version of the PAN card with a digital signature, equivalent to the PAN card, valid for all sorts of financial and official purposes and obtainable for download from the website on getting the PAN card. That saves carrying the PAN card in physical form, so less chance of damaging it or losing it.
5. Biometric Authentication for verification
The government has also integrated biometric authentication for verification; this enhances the whole process being more secure and reduces misusing of PAN cards. This ensures proper identification of the applicants thus avoiding misuse of PAN cards.
6. Real-time Application Tracking
The other trend has been real-time application tracking. As of now, the status of an applicant’s PAN card can be viewed online by him/her. It’s this feature that tells a person the status of his/ her application, and subsequently this also does away with anxiety and doubts.
7. PAN-Aadhaar Linking
According to the government, it has made it compulsory to link Aadhaar number with PAN cards. Due to this, the case of tax evasion could be checked more easily. This has been done by making verification easy too. The compliance of this law has now become important to maintain it through linking of these documents together.
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FAQ with Answers
Q1: How can I apply for a PAN card online?
A1: You can apply for a PAN card online through the official Income Tax Department website or authorized service providers. Fill in the form, submit required documents, and complete the e-KYC process for a smooth application.
Q2: What is an e-PAN card, and how can I get it?
A2: An e-PAN card is a digitally signed electronic version of your PAN card. You can download it from the official website once your physical PAN card is issued. It’s equally valid for all transactions.
Q3: Why is it mandatory to link PAN and Aadhaar?
A3: Linking PAN and Aadhaar is mandatory to curb tax evasion and streamline verification. It helps the government track financial transactions and maintain tax compliance.
Q4: How long does it take to receive a PAN card after applying?
A4: With the digitization of the process, you can often receive your PAN card within a few days of application. The exact time may vary, so track your application online for updates.
Q5: Is biometric authentication necessary for PAN card verification?
A5: Biometric authentication enhances security and helps verify an applicant’s identity accurately. While not always mandatory, it adds an extra layer of protection against fraudulent applications.
