What is PAN 2.0? Government will spend Rs 1,435 crore on the project, will new PAN cards have to be made?

New Delhi: The Cabinet Committee on Economic Affairs (CCEA) met on Friday under the chairmanship of Prime Minister Narendra Modi. During this, the Income Tax Department's PAN 2.0 project was approved to create a completely paperless and online system across the country. This information has been given by issuing an official press release. In which it has been said that the government aims to provide benefits to the people by linking the taxpayers' registration service with technology-based changes.

The move by the government will enable ease of access and accelerated service delivery with better quality, single source of truth and data consistency, eco-friendly processes and cost optimization, and security and optimization of infrastructure for greater agility. The government has said it will spend a total of ₹1,435 crore for the PAN 2.0 project.

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PAN will be completely paperless

Discussing the details of PAN 2.0 project, Union Minister Ashwini Vaishna said that PAN card is part of our life which is important for middle class and small business, it has been highly upgraded and PAN 2.0 has been approved today. . The existing systems will be upgraded and the digital backbone will be brought in a new way…”

The government aims to enable the PAN 2.0 project under Digital India, which will make PAN eligible as a common identifier for all digital systems of specified government agencies. Vaishnav also highlighted that the government aims to focus on the “grievance redressal system” aspect, which will cater to the queries and needs of the users. Union Minister Ashwini Vaishna said that if it can become a common business identifier then its An attempt will be made. There will be an integrated portal, it will be completely paperless and online. Emphasis will be laid on grievance redressal system.

78 crore PAN cards have been issued

Vaishnav's presentation also revealed that the current status of the PAN system is that a total of 78 crore PAN cards have been issued, of which 98 per cent have been issued to individuals. According to the official release, the new system aims to upgrade the existing PAN/TAN 1.0 eco-system, consolidate core and non-core PAN/TAN activities and PAN verification service.

Do new PAN cards need to be made?

Now after this uproar, the question in people's mind is whether there is a need to apply for a new PAN card? Will the existing PAN card become invalid? The answer is that there is no need to change the PAN number. You will get a new PAN card. The new card will have facilities like QR code. Upgradation of PAN will be free of cost and will be delivered to you.