In order to push the digital India campaign to another level, the government of India is developing a mobile app which will help the citizens to pay income tax online and apply for and receive “Permanent Account Number” (PAN) online.
Work is under progress to issue PAN within minutes through e-KYC authentication using Aadhar identity. This step from the government will help to make easy tax payments and receive PAN cards without any physical effort employed.
Since it’s mandatory to have a PAN card for above 50,000 transactions in bank and cash purchase above 2 lakh, this move will help the needy. As per estimates made by the government, there are 25cr PAN card holders in the country now and the number would jump some miles after bringing out this online PAN registration.
This app is currently in preliminary stage. Once the financial ministry approves it, the government will make an official announcement and will release it along with the instructions of usage.