PAN Card 2.0: What is it, documents required, application process, key benefits, how to apply online and more

Indian Express

3 days ago

All you need to know about PAN Card 2.0: The 10-digit alphanumeric Permanent Account Number (PAN), issued by the Income Tax Department, has long been a crucial financial document, in addition to being an identity proof.
PAN 2.0 aims to enhance the user experience, align with technological advances, and modernise taxpayer registration through e-governance.
The QR code function, which was introduced in 2017-18, helps to validate the PAN, will be enhanced further in PAN 2.0.
The initiative also intends to establish a 'mandatory PAN data vault system' for all entities that use PAN data, including financial institutions, government agencies, and federal and state government departments, through an online validation service.
According to an official release, the initiative would enable a technology-driven transformation of taxpayer registration services, hence improving access and service delivery.
The Union Cabinet approved the PAN 2.0 initiative last year to make it the 'single source of truth and data consistency'; the Income Tax Department has been rolling out the updated PAN Card 2.0.
It's crucial to note that existing PAN cards would remain valid under PAN 2.0, and there will be no changes in the alphanumeric PAN, according to FAQs provided by the Finance Ministry.
As a result, existing PAN holders don't have to apply for the new card; however, they can upgrade their PAN for free along with PAN allocation, updates, and corrections.
To apply for the upgraded PAN Card 2.0, certain essential documents are to be submitted as a set for verification.
All the documents should be current, accurate, and comply with official guidelines to prevent processing delays and facilitate a hassle-free application process.
This document verifies your identity. You can submit any one of the following:
This is used to confirm your residential address. One of the following documents will be accepted:
To validate the date of birth, any one of the following documents:
Make sure that all submitted documents are legible and match the information in your application form to avoid rejection or delays.
Step 1: To begin your application, visit the official NSDL website: https://www.onlineservices.nsdl.com/paam/requestAndDownloadEPAN.html
Step 2: Fill out your PAN number, date of birth, and Aadhaar data.
Step 3: Cross-check the information filled and click the checkboxes to 'Submit'.
Step 4: Select your chosen way of receiving a one-time password (OTP), then input the OTP to authenticate your identity and proceed with the application.
Step 5: Agree to the terms and conditions and select your preferred payment method to proceed with the transaction. If you make your request within 30 days of the PAN issuance, there is no fee for up to three requests. However, if you request it after 30 days, a fee of Rs.8.26 (including GST) will apply.