Cabinet approves PAN 2.0: Will you have to apply for a new one?
Ashwini Vaishnaw on Monday announced Prime Minister Narendra Modi-led Cabinet's decision to introduce PAN 2.0.
Will you need to reapply for a new PAN card under the government’s recently launched PAN 2.0 Project? The answer is a clear no. The Union Cabinet on Monday approved the ₹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.
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