Dec 4, 2024
JK News TodayIndia News

Existing PAN holders do not need to apply afresh under PAN 2.0: Tax dept

New Delhi, Nov 26: Existing Permanent Account Number (PAN) card holders are not required to apply for a new one under the upgraded PAN 2.0 system that is primarily aimed at introducing a ‘common identifier’ for all business-related activities, the Income Tax Department said on Tuesday.

The Cabinet Committee on Economic Affairs (CCEA), chaired by Prime Minister Narendra Modi, had approved the Rs 1,435-crore PAN 2.0 Project to streamline and modernise the process of issuing and managing PAN and TAN, making it more user-friendly and efficient.

PAN is a unique 10-digit alphanumeric number issued by the Income Tax Department to Indian taxpayers.

“With existing PAN database of 78 crore PANs and 73.28 lakh TANs, the project addresses the requirements of taxpayers, focusing on consolidation of multiple platforms/portals and efficient services to PAN/TAN holders,” Central Board of Direct Taxes (CBDT) said in a release on Tuesday.

PAN 2.0 is an e-governance project of the Income Tax Department (ITD) for re-engineering the business processes of taxpayer registration services, it said, adding that the objective of the project is to enhance the quality of PAN services through adoption of latest technology.

The Tax Deduction and Collection Account Number (TAN)-related services are also merged with this project.

In an FAQ, the CBDT further said, “The existing PAN card holders are not required to apply for new PAN under the upgraded system (PAN 2.0).” The PAN card will not be changed unless the PAN holders want any updation/correction, it added.

“The existing valid PAN cards will continue to be valid under PAN 2.0,” FAQ said.

CBDT also clarified that the “QR code is not a new feature, and it has been incorporated in PAN cards since 2017-18” and the same will be continued under PAN 2.0 project with enhancements (dynamic QR code which will display latest data present in PAN database).

“PAN holders having an old PAN card without QR code have an option to apply for a new card with QR code in existing PAN 1.0 ecosystem as well as in the PAN 2.0,” CBDT said.

The QR code helps in validating the PAN and PAN details.

Presently, a specific QR reader application is available for verification of QR code details.

On scanning of the QR code, complete details — photo, signature, name, father’s name/mother’s name and date of birth — is displayed.

On how PAN 2.0 will be different from the existing setup, the FAQ said it will lead to integration of platforms.

Presently, PAN-related services are hosted on three different portals — e-filing Portal, UTIITSL Portal, and Protean e-Gov Portal.

In the PAN 2.0 Project, all PAN/TAN-related services will be hosted on a single unified portal of the ITD.

“The said portal will host all end-to-end services related to PAN and TAN like allotment, updation, correction, Online PAN Validation (OPV), Know your AO, Aadhaar-PAN linking, verify your PAN, request for e-PAN, request for re-print of PAN card, etc,” as per the FAQ.

PAN 2.0 will also make comprehensive use of technology for paperless processes.

Further, allotment/updation/correction of PAN will be done free of cost and e-PAN will be sent to the registered mail id.

“For physical PAN card, the applicant has to make a request along with the prescribed fee of Rs 50 (domestic). For delivery of card outside India, Rs 15+ India post charges at actuals will be charged to the applicant,” CBDT’s FAQ added.

It also said if existing PAN holders want to make any correction/updating of their existing PAN details such as email, mobile or address or demographic details such as name, date of birth, they can do so at free of cost after the PAN 2.0 Project commences.

Till the time the PAN 2.0 project is rolled-out, PAN holders can avail of the Aadhaar-based online facility for update/correction.

PAN 2.0 project is likely to be rolled out next year.

The CBDT also said PAN 2.0, with the improved systems logic for identification of potential duplicate requests for PAN and centralised and enhanced mechanism for resolving the duplicates will minimise instances of one person holding more than one PAN.

In the Union Budget 2023, the government had announced that for business establishments required to have a PAN, the PAN will be used as the common identifier for all digital systems of specified government agencies.

Under the project, the tax department is consolidating all processes related to PAN allotment/update and corrections.

Besides, PAN authentication/validation through online PAN validation service will be provided to user agencies such as financial institutions, banks, government agencies, central and state government departments.–(PTI)

 

👉Join JKUpdates WhatsApp Channel 👈

JK Police SI Recruitment for Fresh Sub Inspector : 669 Posts

160+ Posts: Fresh Recruitment in GMC Jammu, Check Details

 

👉Join Our Whatsapp Channel


Install J&K's Best and Most Trusted Jobs, News App 👇
Install JKUpdates App
Install JKUpdates App
This site uses cookies to deliver our services and to show you relevant Jobs Updates, Notifications, News and Ads. By using our site, you acknowledge that you have read and understand our Cookie Policy, Privacy Policy, and our Terms of Service

Copyright © 2010 to Present | JKUpdates | Designed by Bharat Softwares