Budget 2020: Govt rolls out new process of instant allotment of PAN through Aadhaar
New Delhi, Feb 01: Finance Minister Nirmala Sitharaman on Saturday said a system to be launched soon, for instant online allotment of PAN on the basis of Aadhaar, without the need for filing any application form.
A fresh PAN will be allotted on the basis of a one-time password (OTP) sent over the "active mobile number" linked with the valid Aadhaar number of a person.
The new PAN, obtained by this mechanism, will have the same name, date of birth, gender, mobile number and address that is present in the individual's Aadhaar.
While Aadhaar is issued by the Unique Identification Authority of India (UIDAI) to a resident of India, PAN is a 10-digit alphanumeric number allotted by the I-T department to a person, firm or entity.