Explainer: PAN 2.0: Will your old PAN still work? What can change, know the answer to every question here...

The central government has decided to upgrade the old PAN card. The government has approved the project to upgrade the PAN card. In the meeting of the Union Cabinet, it was decided to bring 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 government's Digital India campaign. In this, all the facilities will be available through a QR code. PAN card is an important document in today's time, in such a situation, if these questions arise in your mind whether the old PAN remain valid after the new update? What facilities will be available from QR? And how to update the PAN? ... All these questions of yours will be answered here. Let us tell you everything.

The project is worth 1,435 crores.

A PAN card has a unique number, which is an important document for every taxpayer. It is used to identify taxpayers. Apart from this, it is also used to facilitate financial transactions. With this decision of the government, the new system will upgrade the existing PAN card digitally and make the tax system more transparent. The cabinet has approved Rs 1,435 crore to make this project successful.

QR code

The new PAN card will have a scanning feature, which will have a QR code attached to it. PAN verification will become easy with the 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 doing transactions through banks will be easy.

Unified portal - For all the work for which PAN is required in PAN 2.0, a single portal will be provided for all of them, with the help of which taxpayers will find it easy 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. A single PAN will be used for all small and big work 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 the future.

Some questions related to the new PAN- Answers

Old PAN card will remain valid, will you have to get a PAN card made again?

If you have a PAN card, then there will be no need to get a PAN card made again and the old PAN card will remain valid. Union Minister Ashwini Vaishnav said that the new PAN 2.0 will be an upgraded version of the old PAN, 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 for a new PAN. You will get the old card with updates.

How much money will it cost to upgrade PAN?

Your PAN will be upgraded for free. It will not cost money.

When will PAN 2.0 start?

The exact date of the start of the PAN 2.0 project has not been announced yet. However, an update from the government is expected soon.