The central government has approved the PAN 2.0 project to make the PAN card system more transparent and secure. Under this new system, QR code-based advanced PAN cards will be issued. Identification of fake PAN cards will now be easy, and no person will be able to keep more than one PAN card.

Existing PAN cards will remain valid.

Despite the implementation of PAN 2.0, the old PAN cards will remain valid. Taxpayers will not need to apply for a new card. A new PAN card will have to be made only in case of a change in information.

Digital verification and convenience through an integrated portal

CBDT has said that all services related to PAN cards will now be available on a single portal. Application, correction, Aadhaar linking,g and online verification of the card can be done from this integrated platform. This will make the management of services simpler and faster.

QR code will have dynamic data.

QR code facilityhas beeng provided in PAN cards since 2017-18, but it will be further upgraded under PAN 2.0. The new QR code will be dynamic, so that the latest information including photo, signature, name, parents' names, and date of birth can be verified digitally.

78 crore PAN and 73 lakh TAN will be included

This project includes PAN and TAN (Tax Deduction and Collection Account Number). According to CBDT, currently,y there are 78 crore PAN and 73.28 lakh TAN accounts. Now both of these will be managed on a single digital platform.

Fake PAN will be banned.

To strengthen the security of the new PAN card, the  'PAN Data Vault System' will be implemented. This system will be applicable to those institutions which use PAN data. This will ensure the privacy of personal data and prevent fake applications.

Nominal charges for physical card

A digital PAN card will be available free of cost, but a fee of Rs 50 will have to be paid to get the physical card. There will be separate postage charges for supplies abroad.

Transparency will increase with PAN 2.0

The PAN 2.0 project will not only simplify digital services but will also serve as a uniform business identifier for government agencies. This move is a big step towards modernizing the tax system in the country.