PAN 2.0 will provide online PAN authentication & validation services for banks, financial institutions, & government agencies, among others.

What is PAN 2.0? Do You Need to Change Your PAN Card? The Indian government has introduced the PAN 2.0 project, aiming to modernize and streamline the Permanent Account Number (PAN) system. This initiative, led by the Income Tax Department (ITD), was approved by the Cabinet Committee on Economic Affairs (CCEA), chaired by Prime Minister Narendra Modi, on November 25, 2024.

Under PAN 2.0, the existing PAN system will be upgraded to a single, unified platform, consolidating services currently spread across multiple portals. Here’s everything you need to know about this new system:

What Is PAN 2.0?

The PAN 2.0 Project is an e-governance initiative designed to re-engineer the processes related to taxpayer registration. Its primary goal is to improve the quality of PAN-related services by adopting advanced technology. The project integrates all processes for PAN and TAN (Tax Deduction and Collection Account Number), including allotment, updates, corrections, and validation services.

Additionally, PAN 2.0 will provide online PAN authentication and validation services for banks, financial institutions, government agencies, and other entities.

Key Features of PAN 2.0

1. Unified Platform:

   Advertisement
   • PAN-related services, currently managed on three separate portals (e-Filing Portal, UTIITSL Portal, and Protean e-Gov Portal), will now be hosted on a single, unified platform.
   • The platform will handle all PAN and TAN services, including allotment, updates, Aadhaar-PAN linking, corrections, online PAN validation, and more.

2. Paperless Processes:

   • The system will enable a fully online, paperless process for all services, making it more efficient and user-friendly.

3. Free Updates and Corrections:

   • PAN holders can update or correct their PAN details (name, address, date of birth, mobile number, etc.) free of cost.
   • A digital e-PAN will be sent to the registered email ID. For a physical PAN card, users can request one by paying ₹50 (for domestic delivery) or ₹15 plus actual postage charges (for international delivery).

Frequently Asked Questions

1. Do I Need to Change My Existing PAN Card under PAN 2.0?

No. Existing PAN cardholders are not required to apply for a new PAN under the PAN 2.0 system. Your current PAN card remains valid.

2. Can I Update or Correct My PAN Details?

Yes. PAN holders can update or correct their PAN details (such as name, address, email, or mobile number) free of cost once the PAN 2.0 project is launched. Until then, minor updates like email or address changes can be done using Aadhaar-based online facilities via these links:

• NSDL Portal
• UTIITSL Portal

For other corrections or updates, users can follow the existing processes online or by visiting physical centers, which may involve a fee.

3. Will I Receive a New PAN Card?

No new PAN card will be issued unless you request updates or corrections. The updated details will be reflected in the database, and an e-PAN will be issued.

Advantages of PAN 2.0

• Ease of Access: A single platform for all PAN and TAN-related services.
• User-Friendly Experience: Simplified processes with complete online support.
• Cost-Free Updates: No charges for correcting or updating PAN details.
• Enhanced Technology: A modern system for faster processing and improved efficiency.

When Will PAN 2.0 Be Available?

While the government has announced the project, the exact timeline for its rollout has not yet been confirmed. In the meantime, taxpayers can continue using the existing portals for their PAN-related needs.

PAN 2.0 is a step toward making India’s tax system more efficient and accessible, ensuring better services for taxpayers across the country.

(For more news apart from What is PAN 2.0? Do You Need to Change Your PAN Card?, stay tuned to Rozana Spokesman)