Instant E-PAN And Facelift Of Form 26AS

Recently CBDT announced the launch of instant PAN facility through Aadhaar based e-KYC and substantially changed the contents of Form 26AS. Regarding PAN, a press release dated 28 May 2020 was issued, whereas notification No. 30/2020 of even date was issued amending Form 26AS.

Key highlights of the new PAN facility and new Form 26AS are as under

Instant PAN through Aadhaar based e-KYC

• The Finance Minister in her 2020 Budget speech indicated about allotment of instant PAN based on Aadhaar;
• The 'Beta version' of the facility on a trial basis was started on 12 Feb 2020 on the e-filing website of the Income Tax Department (https://www.incometaxindiaefiling.gov.in/). Under the trial phase, the turnaround time of approximately 10 minutes was clocked;