Govt of India is eager to bring down the time required for registering within tax regime – be it PAN Card or the very process of filing taxes.
As per new reports coming in, Central Board of Direct Taxes, which oversees and controls Income Tax Department, is planning a big revolution in the income tax regime. From now on, PAN Card would be issued in 5 minutes, using Aadhaar based e-KYC.
As per officials, PAN Card, which took 45-60 days to be issued earlier, is being compared with SIM Card in terms of service delivery. And connecting the dots, the IT Dept. is now thinking that if SIM Cards can be issued in 5 minutes using Aadhaar based e-KYC, then why not PAN Card?
An IT official said, “If a SIM can be issued through e- KYC, then the same can be done for PAN,”
Here is a finer detail: PAN Card number would be issued in 5 minutes flat, but the delivery of the card would take some time (1-3 weeks)
In 2015, when we had reported that PN Card would be issued in 48 hours, then there was a huge debate on the feasibility of this plan. We still receive comments on that post, wherein people are demanding actual reality.
But, with the introduction of unique biometric based Aadhaar enabled e-KYC, which can activate a new SIM within 5 minutes, realities have indeed changed. Govt. had approved this modus operandi last year.
And fortunately, Income Tax Dept. is hyperactive and alert to embrace this technological wonder to adapt skillfully.
Unified App for Paying Taxes
And in other major revolution, Income Tax Dept. is planning to develop a unified app, which can be used to perform various tax related activities, with ease.
If reports are to be believed, then businesses and individuals would be soon able to apply for PAN Card, file taxes, seek returns and access every form of Tax data with few taps and scrolls.
Directorate of Systems along with Corporate Affairs Ministry and Central Board of Direct Taxes are coordinating together to make this system work and execute swiftly. Considering the security risks and confidential data involved, this application would be developed in-house by CBDT, and no outside agency would be involved.
We will keep you updated as more details come in..