PAN 2.0: To modernise India’s tax administration, Union Minister Ashwini Vaishnaw announced the government's new initiative PAN 2.0 Project of the Income Tax Department. As part of the initiative, citizens will soon receive a new version of the PAN card featuring a QR code.
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 PAN 2.0 project would ensure the technology-driven transformation of PAN/TAN services for enhanced digital experience of the taxpayers.
PAN 2.0: Key features and changes expected
The government will allocate Rs1,435 crore to the PAN 2.0 project, which aims to enable a technology-driven transformation of taxpayer registration services. This initiative offers several key benefits, including:
- System Upgrade: A comprehensive overhaul of the existing framework to boost operational efficiency using cutting-edge technology.
- Common Business Identifier: PAN will serve as a unified identifier for business activities across specified sectors, simplifying compliance and integration.
- Unified Portal: A centralised platform providing all PAN-related services in one place, ensuring convenience and accessibility for users.
- Cybersecurity Measures: Robust protocols will be implemented to safeguard user data against cyber threats and unauthorized access.
- PAN Data Vault: Mandating secure storage systems for entities using PAN data.
The PAN 2.0 Project is designed to transform the taxpayer experience by offering faster services and significantly improving operational efficiency.
FAQs answered
Here are the answers to common questions regarding the PAN 2.0:
1. Do you need to apply for a new PAN card? Will your current PAN card be invalid?
No, you do not need to apply for a new PAN number. Your current PAN card will remain valid. Vaishnaw said that citizens will not need to change their PAN number. PAN 2.0 will come as an upgrade to the existing PAN system.
2. Will you get a new PAN card?
Yes, you will receive a new PAN card with upgraded features.
3. What new features will you get in the new PAN card?
The new PAN card will feature enhanced functionalities, such as a QR code for quick data access and verification. As per Vaishnaw, the new card will come with a QR code for quick scans and will be fully online.
4. Do you need to pay for PAN upgrade?
No, the upgradation of your PAN will be free of cost.
5. When will PAN 2.0 roll out?
The exact date for the rollout of the PAN 2.0 project has not been announced yet. However, the government has outlined plans for its implementation as part of the ongoing digital transformation, aiming to provide a more seamless and efficient taxpayer experience.
Also Read: Cabinet approves Rs 1,435 crore 'PAN 2.0 Project' | CHECK DETAILS
