PAN Card 2.0: Will you also have to get a new PAN? Taxpayers in dilemma after Modi cabinet's announcement!

PAN Update: With the approval of the PAN 2.0 project, taxpayers have got into a dilemma regarding PAN card. Now everyone has many questions about PAN card. Read here the specialty of the new PAN and will you also have to get it made?

Cabinet Decision: The Modi government has made a big announcement for taxpayers in its cabinet meeting held on Monday. Union Minister Ashwini Vaishnav said that the PAN 2.0 project has been approved in the cabinet meeting led by Prime Minister Narendra Modi. The government will spend Rs 1435 crore on this project.

With the approval of the PAN 2.0 project, taxpayers have gotten into a dilemma regarding PAN card. Taxpayers have many questions about PAN card, whether the PAN card they have now is of no use, will a new PAN have to be made in place of it or will it be necessary to have both PAN cards?

So let us tell you that the card to be made under the PAN Card 2.0 project is an upgraded version of the PAN Card 1.0 project. This PAN will be with QR code and taxpayers will not have to spend a single penny separately to get it made. At the same time, there is no need to go anywhere for this. The new PAN will be made absolutely free through online process.

These changes will be in the new PAN

The objective of the PAN 2.0 project is to improve the digital experience of taxpayers by speeding up their services. These will be the benefits of the new PAN-

Streamline Processes: Make taxpayer registration and service easy and quick.

Data Consistency: All information will be easily available in one place.

Ecofriendly Approach: This work will be done online through ecofriendly process and will help in reducing the cost.

Enhanced Security: Digital infrastructure has been upgraded for better security.

About 78 crore PANs have already been issued. It will provide a better digital experience to 98 per cent of them, i.e. almost all existing PAN holders, without any action.