What is the difference between PAN 2.0 and older PAN?
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What is the penalty for not having PAN or having more than one PAN?
Important FAQs on PAN 2.0
Can corrections be made to existing PAN details?
How will new PAN cards be delivered?
Will older PAN cards without QR codes continue to function?
What does "Unified Portal" mean?
The Ministry of Finance has launched the PAN ( Permanent Account Number ) system through the PAN 2.0 project in November, 2024, which aims to modernize taxpayer services and make them more secure and accessible. PAN 2.0 introduces a single unified portal, paperless processing, free e-PAN services , and a dynamic QR code that reflects the latest data from the PAN database.Member of Parliament asked several questions on the PAN 2.0 project and the key differences between the existing PAN cards and the upcoming PAN 2.0 version in Lok Sabha.ET Wealth online tells you the government response about the key differences between the PAN 2.0 and existing PAN and if existing PAN card holders are affected in anyways.Saket Gokhale, Member of Parliament, Lok Sabha asked the following questions from the government about the PAN 2.0 project.Please state the difference between older PAN cards with QR codes and the new PAN cards proposed to be issued under the PAN 2.0 project.The government replied in Parliament and said that PAN cards issued since 2017 as well as the PAN card that will be issued under PAN 2.0 project have QR code. However, under the PAN 2.0 project, the QR code will have further enhancements (dynamic QR code which will display the latest data present in the PAN database.) The existing PAN cards will continue to be valid under PAN 2.0 and there is no requirement for existing PAN holders to obtain a new PAN card.The government replied in Parliament and said PAN cards with QR code printed on them have been issued since 2017.The government replied in Parliament and said the contract for PAN 2.0 project has not been awarded yet.PAN 2.0 is an e-governance project designed to re-engineer taxpayer registration services. The project leverages the latest technology to enhance PAN service quality by consolidating all processes related to PAN and TAN allotment, updates, and corrections. It also provides online PAN validation for financial institutions, banks, and government agencies.According to PIB press release dated November 27, 2024: The QR code is not new; it has been part of PAN cards since 2017-18. Under PAN 2.0, it will be enhanced with a dynamic QR code displaying the latest data from the PAN database. PAN holders with older cards lacking a QR code can apply for a new card with a QR code under both the current PAN 1.0 system and the upgraded PAN 2.0. The QR code facilitates validation of PAN details, ensuring authenticity. A dedicated QR reader application is available to verify details. When scanned, it displays the holder's photo, signature, name, parents' names, and date of birth.According to a PIB release, 'Section 272B of the Income-tax Act imposes a penalty of Rs. 10,000 for taxpayers who fail to comply with PAN-related provisions. This includes not obtaining a PAN when required, knowingly quoting an incorrect PAN on prescribed documents, or providing an incorrect PAN to the person deducting or collecting tax.'As per the Income Tax Act, no individual is allowed to hold more than one PAN. If a person does hold multiple PANs, they must inform the Jurisdictional Assessing Officer and request the additional PAN to be deactivated or deleted.No. Existing Permanent Account Numbers and cards remain valid under PAN 2.0. There's no need to reapply.Yes. Corrections to email, mobile, address, name, and date of birth can be made free of cost after PAN 2.0 commences. Until then, Aadhaar-based online updates for email, mobile, and addresses are available.Physical PAN cards will only be issued upon request due to updates/corrections.Yes. Existing PAN cards remain valid. Dynamic QR codes with updated data will be part of PAN 2.0. Holders of older cards can apply for a new QR-coded card under the existing system or with PAN 2.0.The unified portal consolidates all PAN/TAN related services onto a single platform, streamlining processes and improving grievance redressal.
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