The PAN card you have now will soon go through many changes. The government has given a tender to a company to develop PAN 2.0. This company will make the PAN card more modern and advanced.
Now the big questions are — when will PAN 2.0 start? What changes will happen? And will your current PAN card stop working once the new PAN is launched? The government has answered all these questions in Parliament. Let’s understand each answer one by one.
PAN 2.0 Will Be Launched in 18 Months
The Income Tax Department has given a tender to the IT company LTIMindtree to upgrade the PAN system. The government said in the Lok Sabha that PAN 2.0 will be launched within 18 months of giving the tender. Since the tender is already given, the new system will start after one and a half years.
PAN 2.0 is being developed to make PAN and TAN services easier and faster. The aim is to use the latest technology to solve problems quickly and improve the services given to the public.
What Will Change and Will Your Old PAN Work?
PAN 2.0 will act as a one-stop solution for many services like PAN allotment, correction, Aadhaar linking, TAN, tax deduction, online validation, and re-issuing PAN cards. All these services will be available on one single portal instead of three different platforms.
The process will be paperless, and services like PAN update and correction will be free. An e-PAN will be sent to your registered email ID.
The current PAN card will not become useless. You don’t need to apply for a new PAN. Your existing PAN will remain valid even after PAN 2.0 is launched.