The Union Cabinet on Monday approved the PAN 2.0 project to upgrade the PAN card. PAN card will now be issued with QR code. Now in such a situation many questions arise. How will they get new PAN card with QR code as they have old card? Do I have to reapply? Have to pay any money for it? So let's know the simple answer to all your questions….
Will you be issued a new PAN card? Yes, you will get a new PAN card. Existing PAN card holders will not need to change anything or apply for a new card.
What facilities will be available in the new PAN card? According to Ashwini Vaishnav, the new card will have features like QR code. Government aims to enable PAN 2.0 project under Digital India. This will qualify PAN as a common identifier for all digital systems of government agencies.
The new card will have features like a QR code (this is a symbolic image).
Do you have to pay for PAN upgradation? No. Ashwini said that PAN upgradation facility will be free and it will be delivered to you.
Will a new application for a new pan card be required? No. Old PAN card holders will not have to do any fresh application or process. Your existing PAN will be automatically upgraded.
What is the need for a new PAN card? Vaishnav said that till now the software used to operate the PAN card is 15 to 20 years old and faces many problems. Under the new system, all PAN card related arrangements will be done digitally, so that complaints can be redressed in time.
What will be the benefit? The new system aims to upgrade the existing PAN/TAN 1.0 eco-system, integrate core and non-core PAN/TAN activities and PAN verification service. Explaining the benefits of PAN 2.0, Vaishnav said, the grievance redressal system is being updated. To protect the data, a PAN data vault system is being set up. Having an integrated portal will eliminate the need to visit other portals.
It will become a robust and simple interface for banking and financial services. Now, along with linking PAN with Aadhaar, other financial data will also be integrated.
78 crore PAN cards have been issued Currently, only the old PAN card is being used in the country, which has been in use since 1972 and is issued under Section 139A of Income Tax. If we look at the number of PAN card holders in the country, more than 78 crore PANs have been issued, covering 98 per cent of individuals.
1435 crore project? A financial burden of Rs 1,435 crore has been estimated on this project of the Modi government. Union Minister Ashwini Vaishnav said that PAN card holders will not need to change their PAN number. The new PAN 2.0 will be introduced as an amendment to the existing PAN system. The new card will have a QR code for scanning convenience and will be completely online.
What is PAN card? PAN number is a 10-digit alphanumeric identification document issued by the Income Tax Department. Through the PAN number, the Income Tax department monitors online or financial transactions of any individual.
Image Credit: (Divya-Bhaskar): Images/graphics belong to (Divya-Bhaskar).
