What is PAN 2.0? Here's Everything You Need to Know About New Upgrade to PAN Cards
PAN 2.0 is the next-generation version of India’s Permanent Account Number (PAN) system, designed to offer an advanced, streamlined experience for taxpayers and businesses alike.
Mumbai, November 26: PAN 2.0 is the next-generation version of India’s Permanent Account Number (PAN) system, designed to offer an advanced, streamlined experience for taxpayers and businesses alike. The initiative, announced by Union Minister Ashwini Vaishnaw, aims to modernise the existing PAN infrastructure through advanced technology. This transformation is part of the government's broader Digital India vision, which focuses on improving the ease of doing business and ensuring smoother interactions between citizens and government agencies.
With a financial investment of INR 1,435 crore, the upgrade project approved by the PM Narendra Modi-led Cabinet Committee on Economic Affairs (CCEA) on November 25 will make the PAN system more efficient, secure, and accessible. With more than 78 crore PAN cards already issued, the introduction of PAN 2.0 is expected to simplify the way taxpayers interact with government systems. Let’s know how PAN 2.0 will change the current system and what features are included in this upgrade. Cabinet Chaired by PM Narendra Modi Approves PAN 2.0 Project Worth INR 1,435 Crore To Transform Taxpayer Registration.
Key Features of PAN 2.0
PAN 2.0 brings several key features designed to enhance the taxpayer experience. The new system will include a unified online portal, making all PAN-related services accessible in a paperless and streamlined manner. It will introduce a QR code on PAN cards for easy scanning and quick access to information. Enhanced cybersecurity measures will also be implemented to protect sensitive user data and prevent potential threats. Cabinet Committee Approves Multitracking Projects Worth INR 7,927 Crore To Boost Rail Connectivity.
How is PAN 2.0 Different from Old PAN Card?
PAN 2.0 differs from the old PAN cards by introducing advanced technological features aimed at improving user experience and operational efficiency. Unlike the traditional PAN, which primarily serves as a tax identifier, PAN 2.0 will feature a QR code for easier scanning and faster access to details. The new system will be entirely digital and paperless, with a unified online portal for all PAN-related services. It will also integrate PAN as a universal business identifier across government platforms, enhancing convenience for businesses.
Under the PAN 2.0 system, existing PAN card holders will not need to apply again for a new PAN. The government has clarified that the new system will enhance the current PAN infrastructure, and all existing PAN holders will automatically receive a free upgrade. The upgraded PAN card will feature a QR code for easier access and will be fully online, ensuring a seamless transition. Therefore, there is no need for current PAN holders to reapply, and the changes will be implemented digitally.
(The above story first appeared on LatestLY on Nov 26, 2024 11:11 AM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).