The Cabinet, led by Prime Minister Narendra Modi, announced the implementation of the PAN 2.0 project on Monday. Many people are wondering whether they will need to apply for a PAN card again. To clarify, applying is not mandatory. However, if you wish to upgrade your PAN card, you can do so. According to a report by the Economic Times, Union Minister Ashwini Vaishnav stated that the Cabinet has approved the PAN 2.0 initiative, worth ₹1,435 crore, which ensures that your existing PAN remains valid even as the system undergoes a significant digital transformation.
Upgradation Will Be Available Free of Cost
According to the news, the government has stated that the upgrade, including the addition of a QR code to the PAN, will be made available free of cost to all taxpayers. This initiative aligns with the government’s Digital India vision, which aims to make the Permanent Account Number (PAN) a common business identifier in a digital system managed by government agencies. The government claims that the common taxpayer will benefit from the PAN 2.0 initiative.
🚨🇮🇳 PAN CARDS TO INCLUDE QR CODES UNDER NEW ₹1,435 CRORE PROJECT
India’s Cabinet approved the PAN 2.0 Project, upgrading existing PAN cards with QR codes to streamline digital taxpayer services.
This initiative aligns with the Digital India vision, aiming to simplify… pic.twitter.com/4clmfMz4x7
— Info Room (@InfoR00M) November 26, 2024
Purpose of the PAN 2.0 Initiative
The purpose of the PAN 2.0 project, launched by the government, is to enhance the taxpayer experience through faster services and improved efficiency. This project will facilitate easy taxpayer registration and provide instant processing services. It also aims to act as a single source of truth for integrated information within the system. Under this initiative, a paperless system and cost-effective infrastructure will be established.
The Union Cabinet on Monday approved the PAN 2.0, where it will roll out a free-of-cost upgrade to the PAN Card with a QR Code, announced Union Information and Broadcasting Minister, @AshwiniVaishnaw. This ambitious project is being built at an estimated cost of Rs 1,435 crore.… pic.twitter.com/RfAnlNi7XY
— The CSR Journal (@thecsrjournal) November 26, 2024
How to Apply for a PAN Card Online: Simple Steps
- Visit the Official Website
Go to the official PAN application site:- NSDL: https://www.tin-nsdl.com/
- UTIITSL: https://www.utiitsl.com/
- Select Application Type
Choose “Apply for PAN” and select “New PAN for Indian Citizens”. - Fill in the Form
Enter your details such as name, address, date of birth, and email. - Upload Documents
Upload required documents like Aadhaar, Passport, or Voter ID for identity and address proof. - Payment
Pay the application fee (₹107 for Indian residents) via credit/debit card or net banking. - Submit the Application
Review and submit the form. You’ll receive an acknowledgement number for tracking. - Receive PAN Card
Your PAN card will be delivered to your registered address within 15-20 days.