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QR Code and More – What PAN 2.0 offers?

The Union Cabinet Tuesday November 26, 2024 approved PAN 2.0 – an upgraded version of the existing PAN card or Permanent Account Number

Tuesday November 26, 2024 2:42 PM, ummid.com News Network

New Delhi: The Union Cabinet Tuesday November 26, 2024 approved PAN 2.0 – an upgraded version of the existing PAN card or Permanent Account Number.

"The Union Cabinet approved PAN 2.0 Project of the Income Tax Department. The project enables technology-driven transformation of Taxpayer registration services", Union Minister Ashwini Vaishnaw said.

The financial implications for the PAN 2.0 Project will be Rs. 1,435 crore.

PAN 2.0 Project is an e-Governance project for re-engineering the business processes of taxpayer registration services through technology driven transformation of PAN/TAN services for enhanced digital experience of the Taxpayers.

"This will be an upgrade of the current PAN/TAN 1.0 eco-system consolidating the core and non-core PAN/TAN activities as well as PAN validation service", the government said.

PAN 2.0 Highlights

• Ease of access and speedy service delivery with improved quality
• Single Source of Truth and data consistency
• Eco-friendly processes and cost optimization
• Security and optimization of infrastructure for greater agility.

PAN 2.0 Features

• The new PAN cards will now feature an embedded QR code for enhanced functionality and security.
• The new card will be a universal identifier for businesses across specified government digital systems.
• The project will re-engineer taxpayer registration processes and consolidate PAN/TAN services into a unified platform.
• The project focuses on being eco-friendly, cost-efficient, secure, and fast.

How to get PAN 2.0?

Existing taxpayers can updgrade their PAN cards to OAN 2.0 with no extra charge or cost.

A new taxpayer if applies for PAN s/he will get PAN 2.0 at the first instance.

Taxpayers should also note that their existing PAN card also remains valid till it is updgraded to PAN 2.0.

PAN holders also do not need to apply for PAN 2.0 upgradation as under the government initiative, the existing cards will be automatically updgraded. Also, the QR code and other features, will be made available without any action from current cardholders.

The PAN 2.0 Project resonates with the vision of the Government enshrined in Digital India by enabling the use of PAN as Common Identifier for all digital systems of specified government agencies.

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