Union Minister Ashwini Vaishnaw on Monday announced Prime Minister Narendra Modi-led Cabinet's decision to introduce PAN 2.0.
The announcement has left the citizens thinking if they will have to reapply for a new PAN card under the government’s recently launched scheme. The answer is a clear no. The Cabinet approved the Rs 1,435 crore PAN 2.0 initiative, ensuring that your existing PAN remains valid, even as the system undergoes a significant digital transformation.
Vaishnaw, while announcing the decision, confirmed that the upgrades, including the addition of a QR code to PAN, will be rolled out free of cost to all taxpayers. The project aligns with the government's Digital India vision, making the Permanent Account Number a "common business identifier" across digital systems managed by government agencies.
What changes with PAN 2.0?
The PAN 2.0 Project aims to enhance the taxpayer experience through faster services and improved efficiency. Key benefits include:
Streamlined Processes: Simplified taxpayer registration and services for quicker processing.
Data Consistency: Serving as a single source of truth for integrated information across systems.
Eco-Friendly Approach: Paperless systems and cost-optimized infrastructure.
Enhanced Security: Upgraded digital infrastructure for better agility and protection.
An official release explained that the project would consolidate core and non-core PAN/TAN activities into a unified ecosystem, enhancing validation services and making processes more robust.
What this means for taxpayers
With about 78 crore PANs already issued—98% of them to individuals—this overhaul promises an improved digital experience without requiring any action from current PAN holders.
By re-engineering the PAN/TAN 1.0 ecosystem, the initiative ensures a smoother transition while retaining all functionalities of the current system.
For more news like this visit https://www.ncrjournal.com/
Comments