PAN 2.0: Old PAN Card will Become Obsolete; New Rules will be Implemented

The big news came with the PAN card. Changing format of PAN card. The old card will become invalid. This time Pan will come with QR code. The central cabinet is going to upgrade the PAN card.
Around 78 crore PAN cards have been issued in the country. Of these, 98 % of PANs are provided for personal use. PAN card contains a 10 digit alpha numeric number. It is a very important document for Indians in financial transactions.

What is PAN 2.0?

PAN 2.0 is an e-governance project to re-engineer the business process of taxpayer registration services. The project will be accelerated by technology-driven transformation of pan/tan services. This card will automatically provide quality services to people. It will reduce costs while being environmentally friendly. Security of infrastructure will be ensured. PAN can be used as a simple identity card for all digital systems of government agencies.

Pan 2.0 has been approved on Monday. An expenditure of Rs 1435 crore has been allocated for this. Union Minister Ashwini Vaishnaw informed that the new PAN card will come with a QR code.
All PAN card holders will get a new card in the PAN 2.0 project. There is no need to make any changes or apply for a new card.

According to the decision of the central government, people can now upgrade their old PAN card to a new card at free of cost. It can be said to be a limited and advanced version of the existing Pan/Tan 1.0 ecosystem. This will give taxpayers an enhanced digital experience. It is currently an upgrade of the pan/tan eco-system.

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