The department is also working on another project on issuing PAN card within minutes by e-KYC authentication using Aadhaar. The new initiative will help bring more people under the tax net by easily getting PAN cards.
By using the Aadhaar-based e-KYC facility individuals in need of applying for PAN can verify details such as date of birth or address by bio-metric identification using thumb impressions.
Till date, almost 111 crore Aadhaar numbers has been issued which can be used as an Id for opening bank accounts, getting a new sim, transfer of subsidies and for bio-metric based digital payments under Aadhaar Enabled Payment System.
PAN has been made mandatory now for withdrawing cash and cash of above Rs. 2 lakh. The tax department has newly designed PAN cards with added security features to make them tamper-proof, which is written in both Hindi and English.