PAN 2.0 Project Approved
The Cabinet Committee on Economic Affairs has recently approved the PAN 2.0 project initiated by the Income Tax Department. This project is part of the Central Government’s broader Digital India initiative, which aims to modernize and digitize various services for citizens. Soon, citizens will receive a new PAN card that features a QR code, making it easier to access and verify their information. This upgrade is significant because it reflects the government’s commitment to improving the efficiency and convenience of financial services for everyone.
Investment and Benefits of the New PAN Card
A substantial investment of Rs 1,435 crore will be allocated for the implementation of this project. Information and Broadcasting Minister Ashwini Vaishnav emphasized the importance of the PAN card in daily life, particularly for the middle class and small business owners. The PAN 2.0 project will completely overhaul the existing system, transitioning towards a paperless and fully online experience. One of the key features will be the integration of various identifiers, like PAN and TAN, into a single, unified system, addressing the business community’s demand for a streamlined approach.
No Need to Worry About Existing PAN
There are several questions regarding the transition to the new PAN card. Union Minister Ashwini Vaishnav clarified that there is no need to apply for a new PAN number, as existing PAN cards will remain valid. However, everyone will receive a new PAN card with the enhanced QR code feature at no cost. This upgrade will be delivered directly to users, ensuring that the process is seamless and free of charge. Additionally, the new Data Vault system will enhance the security of PAN details, making sure that personal information is well-protected.
SHOTRS COVERAGE.
The Cabinet Committee on Economic Affairs has approved the PAN 2.0 project, enhancing the Income Tax Department’s PAN card system. With an investment of Rs 1,435 crore, citizens will receive new PAN cards featuring QR codes, aligning with the Digital India initiative. This upgrade will be paperless and online, integrating various identifiers like PAN and TAN into a unified portal. Data security will be prioritized through a mandatory PAN data vault. Existing PAN cards remain valid, and the upgrade will be free of charge.
