Many people in India have a PAN card. It is a very important document that has many details. We need a PAN card for different financial activities. It is issued by the Income Tax Department. It has a ten-digit alphanumeric number that is unique for each person.
Today, we need a PAN card for many purposes, like getting a job, filing income tax returns, investing in stocks or mutual funds, and more. Also, when applying for a loan or credit card, banks and financial institutions use the PAN card to check a person’s financial situation.
Meanwhile, the PAN Card 2.0 project has started in India. Under this project, a new type of PAN card will be issued. PAN Card 2.0 will have a special QR code and extra security features.
Many people are asking if old PAN cards will become invalid after PAN 2.0. Is it now mandatory for everyone to get PAN Card 2.0? We will explain it here.
The Indian government will issue PAN 2.0. No fee will be charged. If you already have an old PAN card, you do not need to apply for a new one.
Old PAN cards will stay valid even after PAN 2.0 is introduced. Only those applying for a new PAN card will get PAN 2.0. If your old PAN card has any errors and you update it, you will get a new PAN 2.0 card. This new card will also have a QR code.