PAN 2.0 Project: The Centre has given its approval to a Rs 1,435-crore PAN 2.0 Project in line with the Modi government’s Digital India mission. PAN 2.0 Project is an e-governance project for re-engineering the business processes of taxpayer registration services through technology driven transformation of PAN/TAN services for enhanced digital experience of the taxpayers.
Under the PAN 2.0 Project, the updated card will have added features, including QR code for enhanced functionality. The PAN upgrade will be free of cost and the new PAN card will be delivered directly to you, ensuring a seamless transition to the improved system, the government said.
This will be an upgrade of the current PAN/TAN 1.0 ecosystem consolidating the core and non-core PAN/TAN activities as well as PAN validation service, the finance ministry said in a release.
The PAN 2.0 Project resonates with the vision of the Government enshrined in Digital India by enabling the use of PAN as Common Identifier for all digital systems of specified government agencies.
Also read: Government launches Rs 1,435-crore PAN 2.0 Project – Will your old PAN still work?
What will happen to existing PAN cards?
Existing PAN cards issued to taxpayers continue to remain valid, with no change in their status.
“However, taxpayers now have the option to upgrade their current PAN cards to a new version that includes a QR code for enhanced convenience and security. This upgrade can be done at no additional cost, providing an easy way for individuals to access digital verification features without any extra financial burden,” says Sudhir Kaushik, Co-founder & CEO, Taxspanner.
What does PAN 2.0 mean for users?
The PAN 2.0 initiative is a significant step toward a seamless, digital tax ecosystem, aligning with the government’s vision of a digital Bharat.
The upgraded PAN with QR code integration will simplify KYC processes, improve data accuracy, and enhance service delivery for users, says Anand Kumar Bajaj, Founder, MD & CEO, PayNearby.
Any individual applying for a new PAN card, will have these features include automatically. While existing PAN cards continue to remain valid, with no change in their status, taxpayers now have the option to upgrade to a new version that includes a QR code for enhanced convenience and security, says Bajaj. “Here an assisted business model could play a key role in ensuring that the benefit from this advancement in the new pan card reaches the last mile.”
PAN will now be the new Business Aadhaar
The key aspect of PAN 2.0 project is the upgraded technology framework that will enable PAN to be used as a universal identifier for businesses.
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