PAN Card Tips: Who will have to apply for PAN 2.0? Those who have two cards together will be in trouble..
The central government has announced PAN 2.0, which will be implemented from next year. In PAN 2.0, new PAN cards will be issued, which will have a QR code on the card. Through this, it will be very easy to identify fake PAN cards.
However, even after the new system starts, the existing PAN cards will remain valid. You will have to apply for a PAN 2.0 card only if there is any change in the information related to the card.
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The Central Board of Direct Taxes (CBDT) clarified these points related to the PAN 2.0 project on Tuesday. It has tried to clarify the situation by giving details of frequently asked questions (FAQs). The Union Cabinet approved a project of Rs 1,435 crore to issue a new type of PAN card equipped with a QR code facility a day earlier.
The PAN 2.0 project will be implemented next year
This project has been brought to improve the existing system of issuing Permanent Account Number (PAN). The PAN 2.0 project aims to create a uniform business identifier for all digital systems of government agencies.
PAN is a 10-digit unique number issued by the Income Tax Department. It includes English letters along with digits in an encrypted form. This number is uniquely issued to Indian taxpayers.
According to the official statement, this project aims to streamline and modernize the process of issuing and managing PAN and TAN so that it can become more user-friendly and efficient. The project focuses on the integration of multiple digital platforms and efficient services for PAN/TAN holders.
Old PAN cards will remain valid.
Even after the PAN 2.0 project is launched, the existing PAN with individuals and businesses will remain valid and they will not need to change it. PAN data vault system will be mandatory for all entities using these data to protect the personal data recorded in the PAN. Also, the grievance redressal system will be strengthened under PAN 2.0.
