Outlook Business Desk
The PAN 2.0 Project is an e-Governance initiative to re-engineer taxpayer registration services, consolidating PAN and TAN-related processes. It aims to enhance service quality, offering online validation, and reducing paperwork through technology
PAN 2.0 integrates services currently spread across three portals into a single unified portal. It supports end-to-end services like PAN allotment, updates, Aadhaar linking, and online PAN validation, offering a paperless process
No, existing PAN holders don’t need to apply for a new PAN. The existing PAN remains valid unless updates or corrections are requested. PAN holders can update details using the Aadhaar-based online facility
PAN holders can correct details like name, address, and contact info free of cost under PAN 2.0. Until the rollout, Aadhaar-based updates for address and contact details are available online
Existing PAN cards remain valid. PAN holders can request a new card only if they need updates. PAN 2.0 doesn’t require a new card unless changes are needed, such as updating an address
QR codes are not new but are enhanced in PAN 2.0. PAN holders with older cards without QR codes can request a new card. The dynamic QR code helps validate PAN and its details
As announced in Budget 2023, PAN will serve as a common identifier for business activities in specified sectors, but it won’t replace other identifiers like the Unique Taxpayer Identification Number (TIN)
PAN 2.0 uses enhanced systems to identify and resolve duplicate PAN requests. If someone holds multiple PANs, they must notify the assessing officer for deletion of the extra PANs, as per the Income-tax Act