Pan 2.0 : The government is going to issue new PAN cards equipped with new QR codes. Many PAN card holders are worried due to this announcement of the government. Will they have to apply for PAN card again?
Will they have to pay a fee for the new card? Will the old PAN card work after the new one is issued? Many such questions are in the minds of PAN card holders. Here we are telling you everything about the old PAN and PAN 2.0.
Government brought PAN 2.0 project
Strengthening the Digital India campaign, the central government has decided to update the PAN card. Under this, the PAN 2.0 project has been started, in which new technical services like QR code will be added. This project is an important step by the Income Tax Department towards making the registration service of taxpayers digital and latest.
What is PAN 2.0 project?
PAN 2.0 is an updated version of the existing PAN/TAN 1.0 system. Under this, PAN and TAN services will be integrated and operated digitally. Its aim is to provide easy and fast service to taxpayers.
There will be many benefits from PAN 2.0
The government will spend Rs 1435 crore on this project. This will improve the quality of service and make it faster. The data will be accurate and available at one place. Also, the entire data will be verified. There will be a PAN Data Vault System for data security. Also, the grievance redressal system will be improved.
What will happen to the existing PAN card?
Union Minister Ashwini Vaishnav has clarified that the existing PAN number will not change. Taxpayers will not need to get a new PAN number.
Will everyone get a new PAN card?
All existing PAN card holders will get a new PAN card equipped with QR code and new technological features. Taxpayers will not have to pay any charge for the new PAN card.
78 crore PANs have already been issued
So far 78 crore PAN cards have been issued, out of which 98% are for personal users. This step of the central government will make digital services better than before for taxpayers.
