Big news for PAN Card holder’s. The government has rolled out the PAN 2.0 project, which will provide PAN Cards for free to all taxpayers. As part of the 2023 Budget announcement, the government aims to establish the PAN card as a “common business identifier” across all digital platforms used by government agencies.
With this updated PAN system, it’s now simpler for government departments to check if someone has multiple PAN cards or if they’ve submitted an incorrect PAN number.
Reports indicate that holding more than one PAN card or providing a wrong PAN number is illegal and could lead to a fine of Rs 10,000. Tax experts highlight that PAN 2.0 comes with enhanced security features, including a dynamic QR code that helps identify duplicate PAN cards and any inaccuracies in the information provided.
If someone is found with a duplicate PAN number, they might face a fine of Rs 10,000. The government has the technology in place to detect duplicate PANs. According to the Income Tax Act of 1961, no individual is allowed to possess more than one PAN. If someone does have multiple PANs, they must inform the Jurisdictional Assessing Officer to have the extra PAN canceled or deactivated.
Have you been issued a duplicate PAN card?
There have been instances where individuals have used fake documents, including PAN cards in someone else’s name, to set up companies. Cases of GST fraud and input tax credit fraud have emerged, where these fraudulent companies utilized fake documents. Many of these scams have been uncovered, revealing duplicate PANs linked to original PAN holders who were unaware their details were being misused.
It’s crucial to check if there’s a duplicate PAN issued under your name and to get it deactivated. Experts suggest that anyone can find out if they have a duplicate PAN by reaching out to their local assessing officer or by using the ‘PAN status check’ feature on the e-filing ITR portal. You can easily access this feature on the Income Tax e-filing website.