The central government has decided to upgrade the old PAN card. The government has approved the project to upgrade the PAN card. In the Union Cabinet meeting, it has been decided to launch a new project PAN 2.0 to upgrade the existing PAN/TAN 1.0 system. This project is an e-governance project.
This scheme will be started under the Digital India campaign of the government. In this, all facilities will be available through QR code. PAN card is an important document in today’s time, so if the question is arising in your mind whether the old PAN will remain valid after the new update? What facilities will be available from QR? And how to update PAN?… All your questions will be answered here. Let us tell you everything.
The project is worth Rs 1,435 crore
PAN card has a unique number, which is an essential document for every taxpayer. It is definitely recognized by the taxpayers. Apart from this, it is also used to facilitate financial transactions. With this decision of the government, the new system will digitally upgrade the existing PAN card and make the tax system more transparent. The Cabinet has approved Rs 1,435 crore to make this project successful.
What will be the facilities in PAN 2.0?
QR code
The new PAN card will have a scanning feature, which will have a QR code attached to it. PAN verification will become easier with QR code and this entire process will be done through online medium.
Easy interface for banking- This will be a strong and easy interface for all banking and financial services, with the help of which the process of making transactions through banks will be easy.
Unified Portal- In PAN 2.0, every work for which PAN is required. A single portal will be provided for all of them, with the help of which it will be easier for taxpayers to manage their PAN account.
Common Business Identifier- There is a demand from corporate companies that they have to keep different types of numbers, but now this will not happen. The same pen will be used for all small and big tasks related to business.
Cyber Security- Keeping in mind the frauds happening through PAN. PAN 2.0 will be equipped with cyber security features, which will help in preventing cyber fraud in future.
Some questions and answers related to new PAN
Will the old PAN card remain valid, will I have to make the PAN card again?
If your PAN card has been made, then there will be no need to get the PAN card made again and the old PAN card will remain valid. Union Minister Ashvishni Vaishnav said that the new PAN 2.0 will be an upgraded version of the old PAN and people do not need to change their PAN number.
Will we get a new card?
Yes, you will get a new card, but you will not have to apply a new PAN for it. You will get only the old card along with the update.
How much will it cost for PAN upgradation?
You will get upgradation of PAN for free. This will not cost money.
When will PAN 2.0 start?
The exact date of commencement of PAN 2.0 project has not been announced yet. However, the government is expected to update about it soon.