The government of India has taken another striking step toward the Digital India campaign with the collaboration of the Income Tax Department. A few days ago, Income tax department announced its new app Aadhaar e-KYC that enable a user to get PAN card only in 5 minutes. With the help of this app, taxpayers can pay their taxes through their smartphones. The Central Board of Direct Taxes and IT department is working on this project that would help the people to know about their PAN card within minutes instead of 2,3 weeks. When Aadhaar based e-KYC app will come into practicing then PAN Card would be issued in 5 minutes. Currently with the standard procedure PAN card took 45-60 days to be issued but now IT department is planning to issued PAN card is five minutes just like SIM Card. The income Tax Department of India will do so with the help of e-KYC authentication system of Aadhaar, which will verify the mandatory details like permanent address, Date Of Birth, through thumb impressions.
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The Central Board of Direct Taxes and The Corporate Affairs Ministry join their hands in this project to issue a PAN to companies through a combined form in four hours. The PAN card number will be issued in 5 minutes but its delivery would take 1 to 3 weeks. The reason behind this app is to make a process of tax paying simpler for seniors citizens and young taxpayers. The Aadhaar e-KYC app is at its first stage and will be launched after the approval of Finance Ministry.
As our honorable Prime Minister always said that he wants to make India the digital India and took all possible steps to make it a reality. Recently many banking apps are introduced in India after demonstration now, Aadhaar e-KYC app, it seems that the dream of digital Indian will soon come into reality. Aadhaar e-KYC app is a major revolution, Income Tax Dept and if sources are to be believed soon individuals and businesses can apply for PAN card, tax returns and access tax data in their smartphones. This app is designed by the in-house team of CBDT because of security concern, no outside agencies are involved in the development of this app.
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We all know that the PAN card is a very necessary document and without this simple looking card we can not make transactions of Rs 50,000 and above. Currently, in India there is more than 25 crore people have their PAN card and only 11 crore people have their Aadhar cards, so it will be challenging for the government to fill this gap first otherwise there will be no use of this app. On 1 January 2017, the income tan department has started distributing the newly designed PAN cards having security features and the content of the card written in both English and Hindi language.