Rules Related to E-PAN Card
E-PAN card facility has been recently introduced by the Finance Minister, this way it has not only made it easy to apply for PAN but also it does not require any manual documents for the same. E-Pan Card facility is based on Aadhar card online verification through its authority namely Unique Identification Authority of India (UIDAI). The new E-PAN card has been made equal Identity as the old laminated PAN Card. Although the facility of E-Pan card is very easy and free but still there is some important facts should kept in mind before applying for the same. Ignorance of the same may trouble you and also make one liable for penalties as per Income Tax Act.
Penalty of 10000/- As per Income tax act one person can have only one valid pan in its name, If one apply for new E-PAN and caught with having two PAN’s then the same person is liable for prosecution under section 272B(1) of Income tax act and may be punished with INR 10000/- penalty for the same.
For applying E-PAN Card following is other important points which should also be keep in mind before applying E-PAN card.
Valid Mobile number required for e-KYC – Just having Aadhar is not sufficient, Aadhar card should be linked with valid mobile number on which OTP can be accessed. OTP is one time password through which Income tax department verifies your details with Aadhar card.
Date of Birth as per Income tax for applying e-PAN card age should be 18 or more as on date of application also the format of Date of birth should be in DD/MM/YY. Some older Aadhar cards having only birth year on their Aadhar card, in this situation one need to visit online Aadhar website or center for updating of the same, Once the same is updated the same can be accepted and E-PAN card may be processed.
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