A lot of folks in the country have a PAN card, which is super important. It holds a bunch of our key information and is necessary for various financial tasks. The Income Tax Department issues these cards, and each one has a unique ten-digit alphanumeric number assigned to individuals.
Nowadays, you need a PAN card for several things, like starting a new job, filing your income tax return, or investing in stocks and mutual funds. Plus, when someone applies for a loan or a credit card, banks and financial institutions use the PAN card to check the applicant’s financial status.
Recently, India launched the PAN Card 2.0 project, which will introduce a new version of the PAN card. This updated card will feature a special QR code and enhanced security features.
Many people are curious if the old PAN cards will still be valid after PAN 2.0 rolls out. Do you need to get the new PAN card? If you’re wondering about this, we’ve got the scoop for you.
The Government of India will handle the issuance of PAN 2.0, and there won’t be any fees involved. If you already have an old PAN card, you don’t need to worry about applying for a new one.
The introduction of PAN 2.0 won’t affect the validity of existing PAN cards; they will still be valid. Those who apply for new PAN cards will receive the updated version, while anyone needing corrections on their current PAN card will get the new PAN 2.0 with the QR code included.