Wednesday, November 27, 2024
Home Business PAN 2.0 FAQs answered! Will your PAN Card change, will it have a new number? Income Tax Department releases top points

PAN 2.0 FAQs answered! Will your PAN Card change, will it have a new number? Income Tax Department releases top points

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PAN 2.0 FAQs answered! Will your PAN Card change, will it have a new number? Income Tax Department releases top 10 points

PAN 2.0: Existing PAN card holders can rest assured as no reapplication is necessary.

PAN 2.0: The Income Tax Department‘s

PAN 2.0

Project has received approval from the Cabinet Committee on Economic Affairs (CCEA). This initiative seeks to enhance and digitise PAN and TAN management systems, improving accessibility and efficiency.
The modernised system aims to deliver improved service efficiency, robust grievance resolution, and strengthened data protection. Users will benefit from streamlined online applications, simplified updates, and digital PAN validation.
Existing PAN card holders can rest assured as no reapplication is necessary under the government’s new scheme. During the Cabinet briefing, Union Minister Ashwini Vaishnaw clarified that the enhanced PAN card features, including the newly incorporated QR code, would not incur any extra costs for taxpayers.

What is PAN 2.0?

The PAN 2.0 Project represents an electronic governance initiative by the Income Tax Department, aimed at modernising taxpayer registration services. This initiative focuses on improving PAN services through contemporary technological solutions. The project consolidates all PAN-related processes, including allotment, updates and modifications, whilst incorporating TAN services into its framework.

Additionally, the project will offer online PAN authentication and validation services to various organisations, including financial institutions, banks, and governmental bodies at both central and state levels.

PAN 2.0 FAQs Answered:

For greater clarity on the PAN 2.0 project and what it means for taxpayers, the Ministry of Finance has released a list of FAQs or Frequently Asked Questions:
How will PAN 2.0 be different from the existing setup?

  • Integration of Platforms: Currently, PAN services operate across three separate portals (e-Filing Portal, UTIITSL Portal and Protean e-Gov Portal). The PAN 2.0 Project will consolidate all PAN/TAN services onto a single unified ITD portal. This centralised platform will provide comprehensive services including allocation, updates, amendments, Online PAN Validation (OPV), Know your AO, AADHAAR-PAN linking, PAN verification, e-PAN requests, and PAN card reprint applications.
  • Digital Transformation: The system will implement a complete online paperless workflow, replacing the current operational methods.
  • Taxpayer facilitation: PAN allocation, updates and corrections will be provided at no cost, with e-PAN documents delivered to registered email addresses. Physical PAN cards require a separate application with a Rs 50 fee for domestic delivery. For international delivery, applicants must pay Rs 15 plus actual India post charges.

Do existing PAN CARD holders have to apply for a new PAN under the upgraded system? Do you need to change your PAN number?
No. Holders of current PAN cards need not worry about obtaining a new PAN under the upgraded system (PAN 2.0). Their existing PAN numbers remain valid and unchanged.
If new PAN cards are QR code enabled, will older ones continue to function as it is? What will QR code help with?

  • QR codes have been a standard feature on PAN cards since 2017-18, and this functionality will be enhanced under the PAN 2.0 project through dynamic QR codes that reflect the most current information in the PAN database. Those who possess older PAN cards without QR codes can request new ones featuring QR codes through either the existing PAN 1.0 system or the newer PAN 2.0 platform.
  • The QR code serves as a tool for authenticating both the PAN and its associated information.
  • Currently, verification of QR code information requires a dedicated reader application. When scanned using this application, it displays comprehensive information including the photograph, signature, name, Father’s Name / Mother’s Name, and Date of Birth.

Do I need to change my PAN card under the PAN 2.0?
No, existing PAN cardholders need not change their cards unless they require updates or corrections. All valid PAN cards will remain operational under PAN 2.0.
For people holding more than one pan, how will you identify and weed out the extra PAN ?
According to the Income-tax Act, 1961, holding multiple PANs is not permitted. Individuals with multiple PANs must inform their Jurisdictional Assessing Officer to have additional PANs deactivated or deleted.
PAN 2.0 introduces sophisticated systems to detect potential duplicate PAN applications. Its centralised mechanism for resolving duplicates will significantly reduce instances of individuals holding multiple PANs.
What does the “Unified Portal” mean?
Currently, PAN services operate across three separate portals. The new PAN 2.0 Project will consolidate all PAN/TAN services onto a single integrated portal managed by the Income Tax Department. This unified platform will encompass comprehensive services including allocation, modifications, corrections, Online PAN Validation (OPV), AO information, AADHAAR-PAN linking, PAN verification, e-PAN requests and PAN card reprinting facilities.
This consolidation aims to streamline processes and eliminate delays in service delivery and grievance resolution that previously occurred due to multiple application channels (online eKYC, online paper mode and offline submissions).
Do people have an option to get corrections done on PAN, like name, spellings, address change etc?
PAN Card holders can update or correct their existing PAN information, including email, mobile, address, and personal details like name and date of birth, without any charges once the PAN 2.0 Project begins.
Before the PAN 2.0 project launch, holders can modify their email, mobile and address details at no cost through Aadhaar-based online services by visiting:
* https://www.onlineservices.nsdl.com/paam/endUserAddressUpdate.html
* https://www.pan.utiitsl.com/PAN_ONLINE/homeaddresschange
For all other PAN detail modifications or corrections, holders must follow the current procedure, which involves either visiting physical centres or submitting online applications with applicable fees.
A lot of people have not changed their addresses and are continuing with old address. How will the new PAN be delivered? By when will the new PAN Card get delivered?
PAN cardholders will receive a new card only if they specifically request one due to necessary updates or corrections in their existing PAN details. For those who wish to modify their old address, a complimentary Aadhaar-linked online service is available through these websites:
* https://www.pan.utiitsl.com/PAN_ONLINE/homeaddresschange
* https://www.onlineservices.nsdl.com/paam/endUserAddressUpdate.html
Once completed, the address modification will be reflected in the PAN database system.
What is – the “Common Business identifier for all business-related activities in specified sectors”?
The Union Budget 2023 announced that organisations requiring a PAN would utilise it as their unified identifier across digital platforms of designated government agencies.
Will Common Business identifier replace the existing unique taxpayer identification number i.e. PAN?
No, the current PAN will serve as the Common Business identifier.

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