What is PAN 2.0? - A detailed guide
18 December, 2024
Synopsis:
- PAN 2.0 is the Income Tax Department’s latest project for digital e-PAN Cards.
- These new PAN Cards will feature a QR code for enhanced security and fraud prevention.
- Existing PAN cardholders are not required to apply for new PAN Cards, but there are benefits to doing so.
The Income Tax Department (ITD) recently introduced the PAN 2.0 program. Since its launch, many taxpayers have been wondering if they need to apply for an upgraded Permanent Account Number (PAN) Card and if their existing one becomes invalid. Another question that worries them is how to apply for a new PAN Card.
In this article let’s understand the meaning of the PAN 2.0 project, the upgraded QR code feature, the validity of the existing PAN Card and the new PAN Card application process.
What is PAN 2.0?
A PAN is an individual’s proof of identity with the Income Tax Department and does not change once allotted. The ITD also issues a Tax Deduction and Collection Account Number (TAN) to people engaged in tax deduction or collection at source.
The PAN 2.0 project is an electronic initiative launched by the Income Tax Department to modernise taxpayer registration services. It will combine PAN/TAN, making PAN a common business identifier.
Currently, a taxpayer can avail of PAN-related services on three platforms - the Protean e-Gov portal, the UTIITSL portal, and the e-filing portal. The recent initiative will revamp and upgrade the existing PAN system and integrate the services into a unified portal. This unified portal will manage PAN-related processes, such as allotment, modifications, and updates while accommodating TAN services into its framework.
The initiative also offers taxpayers a new PAN Card with an upgraded QR code feature. However, under PAN 2.0, existing taxpayers don’t compulsorily need to apply for a new PAN Card.
What is the QR code feature in the PAN 2.0 Card?
PAN Cards have QR code functionality from 2017-18. In the PAN 2.0 Card, there is an enhanced dynamic QR code. It improves security and provides current information from the PAN database. PAN 2.0 is expected to protect taxpayers against fraud and enable quick verification.
How to get PAN 2.0 online?
You can apply for a new PAN Card online and receive it on your email ID directly. Before you begin, find out who issued your PAN Card. Was it UTI Infrastructure Technology and Services Ltd. (UTIITSL) or the National Securities Depository Ltd. (NSDL)? This information is available on the back of your PAN Card.
The steps to apply for a new PAN Card through NSDL are as follows:
Go to the NSDL e-PAN portal.
Fill out your PAN number, date of birth, and Aadhaar Card details.
Verify your details and proceed with selecting the method to receive a one-time password (OTP). Enter the OTP to confirm and proceed to the next steps.
The application for a new PAN Card is free for up to three requests within 30 days of PAN issuance. If you request more than three times, every next request will cost Rs. 8.26, including Goods and Services Tax (GST).
Once your payment is successful, you will receive your e-PAN on your registered email ID within 30 minutes.
The documents required to initiate the application process include proof of identity, proof of address, and proof of date of birth. You can raise a complaint to tininfo@proteantech.in with the payment details if the e-PAN is not delivered to your registered email ID.
The PAN 2.0 program’s objective is to transform taxpayer registration services through electronic governance. It will improve accessibility and service efficiency. While existing PAN cardholders don’t need to compulsorily obtain a new PAN Card, obtaining it can help improve security and protect against fraudulent activities. The upgraded card serves as the primary source of accurate data and optimises infrastructure for enhanced flexibility.
Disclaimer: *Terms and conditions apply. The information provided in this article is generic in nature and for informational purposes only. It is not a substitute for specific advice in your own circumstances.
