PAN card (file photo)
The central government on Monday approved the PAN 2.0 project worth Rs 1,435 crore. You will soon receive the updated PAN card. The new PAN card will also have a QR code. You won’t have to pay any money for this. In a way, this project will ensure a technology-based change. This will provide taxpayers with easy access to services, rapid service delivery, better quality, continuity of data, environmentally friendly, affordable and secure infrastructure.
The Cabinet Committee on Economic Affairs (CCEA), under the chairmanship of Prime Minister Narendra Modi, approved this project in the Income Tax Department. Explaining about the project, Union Minister for Electronics and IT Ashwini Vaishnav said that it has focused on ensuring technology-driven taxpayer registration services, ease of access, faster service delivery and better quality. At present approximately 78 crore PANs have been issued. Of these, 98 percent of the PANs have been issued at the individual level.
Will the old PAN card still work?
If you are wondering whether you need to apply for a new PAN card or whether your current PAN will become valid, Union Minister Ashwini Vaishnav has clarified that there is no need to change your existing PAN number. However, you will have to undergo the update process after which you can get a new PAN card.
The entire process will be online and paperless
The updated PAN card will come with new features, which also include a QR code. The best part is that this upgrade will be free and the new card will be delivered directly to you. The existing system will be upgraded and the digital backbone will be implemented in a new way. The government says it will try to create a common business identifier through this project. The entire update process will be online and paperless.
