The Centre has said it has introduced new application processes to fast-track allocation of Permanent Account Number (PAN) and Tax deduction Account Number (TAN) for individual and company applicants.
"For fast tracking the allotment of PAN and TAN to company applicants, Digital Signature Certificate (DSC) based application procedure has been introduced on the portals of PAN service providers NSDL eGov and UTIITSL," Finance Ministry said in a statement.
Under the new method PAN and TAN will be allotted within a day after completion of valid on-line application.
"Similarly, a new Aadhaar e-signature-based application process for individual PAN applicants has been made available on the portals of PAN service provider NSDL eGov," the statement said.
Introduction of Aadhaar based e-signature not only ensures paperless-hassle-free PAN application process but also seeding of Aadhaar in PAN which will curb the problem of duplication of PAN to a great extent.