PAN card Many important decisions were taken in the Union Cabinet meeting on Monday (25 November), the first trading day of the week. PAN cards issued for identification of taxpayers will now be issued with QR codes to enhance the digital experience of taxpayers. The Cabinet Committee on Economic Affairs, chaired by the Prime Minister Shri Narendra Modi, has approved the launch of the PAN 2.0 project, which aims to use PAN as the core identifier in all digital systems of government agencies. A total of Rs 1,435 crore will be spent by the government for the project.
Upgrade in digital security
The main objective of PAN 2.0 is to strengthen digital security to reduce the possibility of fraud and data theft.
E-PAN mandatory
PAN card will be digitized in PAN 2.0 system, in which e-PAN will be mainly used. The system will be paperless and you will be given the PAN number instantly.
Easy interface for fintech and banking
This will make it a robust and accessible interface for all banking and financial services. Now apart from linking PAN with Aadhaar, other financial data will also be collected.
At present around 78 crore PANs have been issued in the country. 98% of these pens are used individually. The project aims to provide greater quality with ease of access and faster service delivery and to restructure the business process of taxpayers’ registration services through technology-based transformation of PAN/TAN services for better digital experience for taxpayers. It is an e-governance project. According to the government statement, this will be an updated version of the existing PAN/TAN 1.0 ecosystem.
PAN with QR code will be issued free of cost
PAN 2.0 project will help in bringing a paradigm shift in the registration services of taxpayers through technology. Taxpayers will get a number of benefits, including making services easier to access, expediting the delivery of services, improving quality, making all information available at one place, keeping data secure and environment-friendly processes that reduce costs. Will help to do. Additionally, PAN will be used as a common identifier for the digital system of government agencies in line with the Digital India vision of the government. Information and Broadcasting Minister Ashwini Vaishnav said that under the PAN 2.0 project, taxpayers will be given a new PAN card with QR code free of cost.
What will be changed for existing PAN card holders
Old PAN card holders will not have to complete any new application or process. Your existing PAN will be automatically upgraded.
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