There is big news for PAN card holders. The government has come up with a big scheme regarding PAN cards. Under this, people will get a PAN card with a QR code. Under PAN 2.0, taxpayers' registration services will be reengineered. It will cost around Rs 1435 crore to implement this scheme. This scheme has also got approval from the Union Cabinet. Regarding PAN 2.0, Union Minister Ashwini Vaishnav has said that the government is going to launch the PAN 2.0 scheme. After its implementation, it will be easy to manage business and citizen-centric activities. After the plan for PAN 2.0 came, many people were asked what is PAN 2.0. Will the old PAN card become invalid after its arrival? Let us know about them in detail -
What is PAN 2.0
Under the initiative of PAN 2.0, the functionality of the PAN card will be enhanced. This is an upgrade of PAN. It will include a QR code for better digital integration. For this reason, the QR code will also be available on a PAN card.
Will existing PAN cards become invalid?
On the other hand, those who have old PAN cards need not worry. After its arrival, the validity of the old PAN card will not end. It will remain valid as before.
If you have an old PAN card, then you will have to update it to a QR code-enabled PAN card. At the same time, you can use your existing PAN card for payments, TDS / TCS credit, income returns, specific transactions, etc. To get a PAN card with a new QR code, you will have to apply on onlineservices.nsdl.com.
Income taxpayers will get many benefits from PAN 2.0. PAN 2.0 upgrade is considered a commendable step in the Digital India movement. With the advanced system in PAN 2.0, your data will be more secure than before.
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