The cabinet led by Prime Minister Narendra Modi has announced the implementation of the PAN 2.0 project on Monday. In such a situation, many people are wondering whether they will have to apply for a PAN card again.
So understand clearly here that applying is not mandatory. Yes, if you want to upgrade your PAN card, you can do it. According to the Economic Times news, according to Union Minister Ashwini Vaishnav, the Cabinet has approved the PAN 2.0 initiative worth Rs 1,435 crore, which ensures that your existing PAN remains valid even as the system undergoes a significant digital transformation.
Upgradation will be available free of cost
According to the news, the government has said that the upgrade, including adding QR code to PAN, will be made available free of cost to all taxpayers. This initiative is in line with the government’s Digital India vision, which makes the Permanent Account Number (PAN) a common business identifier in the digital system managed by government agencies. According to the government, the common taxpayer will benefit from the PAN 2.0 initiative.
Objective of PAN 2.0 initiative
The aim behind the PAN 2.0 project being launched by the government is to improve the taxpayer experience through faster services and greater efficiency. This project will provide easy taxpayer registration and service for instant processing. It also aims to act as a single source of truth for integrated information across the system. This initiative will lead to a paperless system and cost-effective infrastructure.
Related Articles:-
PAN 2.0: You will get a new PAN card with QR code on your e-mail, know how to apply online
EPFO changed the rules for PF claims, Aadhaar is no longer mandatory for everyone
