PAN Card 2.0: After the announcement of the new PAN card 2.0 by the Central Government, is this question arising in your mind that your old PAN card will now become useless? Will you have to get a new PAN card? Don’t worry, we will tell you what will happen to your old PAN card and what benefits you will get from the new PAN card 2.0.
Changes in PAN card 2.0
The central government has taken an important step by announcing PAN card 2.0. This new PAN card will have a QR code facility, which will make the identification and verification process even easier. The government aims to make the PAN card a uniform business identifier for all government digital systems.
Will old PAN card holders have to get a new card
The Central Board of Direct Taxes (CBDT) has clarified that existing PAN card holders do not need to apply for a new PAN number under the new system (PAN 2.0). If existing PAN holders want to make any correction or update in their existing PAN details such as email, mobile number, address, or demographic details such as name, date of birth, etc., they can do so without any charge after the PAN 2.0 project is launched.
Read More:- Special 50 Rupee Note Could Make You a Millionaire, Here’s What You Need to Know
Read More:- Get Free LPG Gas Under Pradhan Mantri Ujjwala Yojana, know how to apply, Application Process here
What will happen to the old PAN card
Union Minister Ashwini Vaishnav, while explaining the cabinet decision, clarified on Monday that if you already have a PAN card, there is no need to change it. Your old number will remain valid. He said that the number of people with old PAN cards will remain the same. They will only have to get a new PAN card made. Not only this, the data in the upgraded PAN will be safe. Union Minister Ashwini Vaishnav has said that a PAN data vault system is being created for this.
Will new PAN cards be equipped with a QR code
The central government has approved a project worth Rs 1,435 crore to issue a new type of PAN card equipped with a QR code facility to taxpayers. The PAN 2.0 project aims to create a uniform business identifier for all digital systems of government agencies. The project was approved in a meeting of the Cabinet Committee on Economic Affairs (CCEA) chaired by Prime Minister Narendra Modi on Monday.
Will taxpayers be able to have more than one PAN
With the implementation of the advanced QR code based system under the PAN 2.0 project, it will be very easy to identify fake cards. Taxpayers will not be able to hold more than one PAN card.
What is the purpose of PAN 2.0
The PAN 2.0 project has been brought with the aim of improving 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.
Read More:- Unified Pension Scheme: 50% Last Salary Pension for Central Govt Employees