The Union Cabinet has approved the ₹1,435 crore PAN 2.0 Project as an advanced technology tool to modernize services regarding taxpayer registration, enhance access, and improve service quality. Union Minister for Information and Broadcasting Ashwini Vaishnaw said the initiative would make the PAN system more efficient – a unified business identifier – with the creation of a paperless, robust grievance redressal system.
Below are some of the most frequently asked questions about the new system and its effect on the prevailing PAN cards.
Will your prevailing PAN card become invalid?
Your old PAN card will still be valid. This new system will work just fine with all of the current PAN numbers.
Will you get a new PAN card?
Yes, the existing holders will be provided with an up-graded card that provides more features, as declared by Vaishnaw.
What can be added features to the new PAN card?
The new PAN card will come with additional features like a QR code and speedy validation.
Will you have to pay for renewing the PAN card?
No, all this is free of charge. You will get the upgraded PAN card free of charge. Taxpayers will not have to pay any extra amount for the new PAN card.
Do you need to apply for a new PAN card?
Existing PAN holders need not apply for a new card as they will automatically get the upgraded PAN card.
What does PAN 2.0 offer for taxpayers?
PAN 2.0 Project, as per Vaishnaw, is well in line with the Digital India vision to enable PAN to act as a Common Identifier for digital systems of any Government Agencies.
How will PAN 2.0 benefit businesses?
A single, pan-country PAN/TAN service can, therefore, serve as a common business identifier. Further, there will be a harmonized, paperless portal with an emphasis on efficient grievance redressal.
How does the PAN 2.0 project fit into the Digital India initiative?
Vaishnaw explained that the PAN 2.0 Project supports the Digital India initiative since it uses PAN as a Common Identifier across all government digital systems.
