Government approved PAN 2.O? Know what this is and how much it will be different from the old PAN card, know everything here

Business News Desk – Everyone uses PAN card. Especially in matters related to financial matters, it is mandatory to have PAN card. But now the central government is going to make major changes in the PAN card. It has been named PAN 2.0 project. The Union Cabinet has also given the green signal to this project. So let us know why the Central Government needed to make a new PAN card and how different is this new PAN card going to be from the old one?

Total cost of PAN 2.0 project
Information and Broadcasting Minister Ashwini Vaishnav has shared many information related to PAN 2.0. If reports are to be believed, it will cost up to Rs 1,435 crore to make this project a reality. However, how much time will this project take to complete? Information related to this has not been revealed yet.

What is the need for PAN 2.0?
The PAN 2.0 project is part of the Central Government’s ambitious plan Digital India. Actually, business people were demanding a common business identity card for a long time. At present, traders have to maintain 3-4 different identity cards, which will be merged into the new PAN card.

How will it be different from the old PAN card?
According to Information and Broadcasting Minister Ashwini Vaishnav, QR code will be installed in the new PAN card. It will be completely based on paperless and online system. All the important information of the people will be present in this QR code. After the implementation of PAN 2.0, PAN data vault system will also become mandatory.

How will PAN 2.0 be made?
To get PAN 2.0 made, you will not need to change your PAN number. The old PAN number will also be valid in PAN 2.0. However, under this project, people will get a new PAN card, which will have digital facilities like QR code. No amount will have to be paid for making a new PAN card. Upgradation of PAN will be completely free and will be delivered to people’s addresses.