PAN 2.0 News
PAN 2.0 taxpayer facilitation is free, and registered mail IDs receive e-PANs. Applicants must pay a domestic charge of Rs 50 for actual PAN cards.
Is a New PAN card application required for the PAN 2.0 project?
The income tax department provides clarification. Income Tax PAN 2.0:
According to the Ministry of Finance, “Under the updated system (PAN 2.0), current PAN cardholders are not required to apply for a new PAN. Unless the PAN holders request an update or correction, the PAN card will not be altered. Under PAN 2.0, the currently valid PAN cards will remain valid.
Postage fees of Rs 15+India would be applied for deliveries outside of India. PAN 2.0 is the future assessees deserve, according to Siddharth Chandrashekhar, Advocate & Panel Counsel for CBIC & CBDT, since it provides safe, immediate verification and lowers the possibility of fraud.
In addition to saving time and trees, the all-digital method facilitates better compliance support and expedited access to government services.
What is PAN 2.0 Project?
PAN 2.0 kya hai :
PAN 2.0 lowers tax evasion, brings informal players into the tax system, and improves data accuracy across systems. It presents a tech-savvy international image and is consistent with Digital India. It might result in less conflict and greater openness for Gen-Z and millennials, which would be advantageous for everyone from independent contractors to
Income Tax Department (ITD) Issues FAQs about PAN 2.0 project
Will the updated system require current PAN card holders to apply for a new PAN? Does your PAN number need to be changed?
No, under the updated system (PAN 2.0 Project), current PAN cardholders are exempt from applying for a new PAN Number.
How will you discover and remove duplicate PANs from those who have more than one?
According to the regulations of the Income-tax Act of 1961, no person can have more than one PAN. If a person has more than one PAN, he or she must notify the Jurisdictional Assessing Officer and request that the additional PAN be deleted/deactivated. PAN 2.0, with improved system logic for identifying potential duplicate PAN requests and a centralised and strengthened procedure for resolving duplication, would reduce the number of cases where one person had several PANs.
The next question is whether individuals can request corrections on PAN, such as name, spelling, and address changes, under the PAN 2.0 project.
Yes, existing PAN holders can make free corrections/updates to their existing PAN details such as email, mobile, or address, as well as demographic details such as name, date of birth, and so on, once the PAN 2.0 project begins. Until the PAN 2.0 project is implemented, PAN holders can use the Aadhaar-based online facility to update/correct their email, cellphone number, and address for free by visiting the NSDL and UTIISL websites.
Many folks haven’t updated their addresses and are still using the old ones. How will the new PAN be delivered? When will the new PAN card be delivered?
PAN holders can update their old address for free using an Aadhaar-based online facility, which is available on the NSDL or UTIISL website, unless they request a new PAN card, Hence no need to deliver.
Next question is, Will existing PAN cards continue to function normally if new ones include QR codes? What can QR codes help us with?
What is PAN 2.0 QR CODE?
The QR code helps in validating the PAN details. The PAN QR code is not a new feature, and it has been incorporated in the PAN cards since 2017-18. The same will be continued under the PAN 2.0 project with enhancements (dynamic QR code which will display the latest data present in the PAN database).
PAN holders having an old PAN card without QR code have an option to apply for a new card with QR code in the existing PAN 1.0 ecosystem as well as in the PAN 2.0.
What is PAN 2.0?
The PAN 2.0 Project is an ITD e-Governance project that aims to reengineer taxpayer registration services’ business processes. The initiative aims to improve the quality of PAN services by implementing cutting-edge technology.
The PAN 2.0 project aims to integrate all PAN/TAN services on a unified portal, promoting a paperless process and reducing the need for multiple portals.
Under this project, ITD is integrating all PAN allotment/update and correction operations. This project also includes TAN-related services.
Furthermore, user agencies such as financial institutions, banks, government agencies, national and state government departments, and others will be able to authenticate and validate their PANs via an online PAN validation tool.
The PAN 2.0 project aims to integrate all PAN/TAN services on a single unified portal of ITD, allowing for allotment, updation, correction, online PAN validation, and more. This will replace the current three portals, which host PAN related services on e-filing, UTIISL, and Protean e-Gov portals. The portal will also enable a complete online paperless process, surpassing the prevailing mode.
How to link PAN Card With Aadhar Card & Check Status of Linking
