Prime minister The Narendra Modi-led Union Cabinet on Monday this week approved a project worth Rs 1,435 crore to issue new generation PAN cards with QR codes. This project, which will be implemented starting next year, has been proposed with the objective of advancing the existing PAN issuance system. With the implementation of the advanced QR code-based system under the PAN 2.0 project, identification of fake cards will be easier and taxpayers will not be able to have more than one PAN card. Not only this, it will be very difficult to commit fraud with the new PAN card and common people will get a lot of protection.
Instant verification feature will be available with the new PAN card.
The Income Tax Department has said that it is not mandatory for people who already have PAN cards to apply for a new card. If a person needs to make any correction or update in his existing PAN card, he can apply for a new card under the PAN 2.0 project. According to experts, the risk of fraud is significantly reduced with the new updated PAN card with QR code under PAN 2.0. Along with this, the instant verification feature will also be available through the new PAN card.
How will ordinary people get protection against fraud?
The new PAN card will come with a QR code, making it very difficult to duplicate the card or alter it. QR codes contain encrypted personal data that can only be viewed by authorized people using specific software. Therefore, it will be very difficult for fraudsters to extract data from new cards and the risk of misuse of your personal data will also be reduced. Usually, scammers change the name and photo on your PAN card, while the PAN number remains the same. With the QR code on PAN, financial institutions will be able to easily verify your personal details instantly.
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