The government has recently approved the Income Tax Department’s PAN 2.0 Project, aiming to streamline and modernize the issuance and management of PAN and TAN. This initiative is set to address the needs of taxpayers, considering the existing database of 78 crore PANs and 73.28 lakh TANs.
Currently, PAN-related services are dispersed across three platforms: the e-Filing Portal, UTIITSL Portal, and Protean e-Gov Portal. With PAN 2.0, these services will be integrated into a single unified platform, simplifying processes like applications, updates, corrections, Aadhaar-PAN linking, re-issuance requests, and online PAN validation. This unified approach aims to eliminate delays, improve grievance redressal mechanisms, and make PAN and TAN management more efficient.
The PAN 2.0 Project also aligns with the Digital India initiative, emphasizing eco-friendly, paperless operations. Furthermore, it positions PAN as a common identifier for digital systems across specified government agencies, marking a significant leap toward digital transformation in India.
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Also read: PAN 2.0: Upgraded PAN with QR code to work like ‘business Aadhaar’ | What it means for users
What if possess you have 2 PAN cards
“As per the provisions of Income-tax Act, 1961, no person can hold more than one PAN. In case a person holds more than one PAN, he/she is obliged to bring it to the notice of the Jurisdictional Assessing officer and get the additional PAN deleted/de-activated. In the PAN 2.0, with the improved systems logic for identification of potential duplicate requests for PAN and centralized and enhanced mechanism for resolving the duplicates would minimize the instances of one person holding more than one PAN,” the finance ministry said in a release.
What happens if you do not surrender duplicate PAN Card
If you possess a duplicate PAN, the Income Tax Department may levy a penalty of up to Rs 10,000 under Section 272B of the Income Tax Act. To save yourself from paying a fine,
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