New Delhi | Jagran Business Desk: Permanent Account Number (PAN) is one of the most essential documents issued by the Income Tax Department of India. This 10-character document is necessary for several bank-related works such as opening a new bank account, financial transaction, transacting, etc. Not just this, it is also essential in purchasing real estate, insurance premium and filing income returns. If you don't have a PAN card, then don't worry, the IT department has launched a new way to get a PAN card within a few minutes only. However, this facility is only for those who have an Aadhaar card.

As per the new facility, a person can get a new PAN card within 10 minutes without paying any service fee in form of PDF and e-PAN, which is as good as a physical copy.

Here's how you can get a new PAN card online instantly:

Step 1: Visit the official e-filling website

Step 2: Click on 'Instant PAN Through Aadhaar'

Step 3: Now click on 'Get New PAN'

Step 4: Fill in your Aadhaar credentials

Step 5: Now, an OTP will be sent to your registered mobile number. Fill in the OTP in the given space.

Step 6: Once OTP is validated, an e-PAN will be issued to you.

Know where a PAN card is required:

Credit & Debit Card- It is mandatory to give a PAN card while filling the form for a Credit or Debit card. Also, it is essential while opening a new savings account.

For TD or FD- a PAN card is required if you buy any securities or mutual fund units worth more than Rs 1 lakh.

Real Estate- It is mandatory to provide your PAN card if you want to buy a property worth Rs 5 lakh or above.

Insurance Premium- If you deposit a life insurance premium of more than Rs 50,000, then a PAN card is required.

Transactions above Rs 50,000- PAN card is required if you want to transact, pay orders or bankers cheque of Rs 50,000 or above in a day.

Tax Returns- It is important to link your PAN and Aadhaar card while filling an income tax return

Posted By: Niharika Sanjeeiv