Saturday, November 30, 2024

PAN 2.0: Is existing PAN invalid, Need to change old PAN, What is PAN 2.0 project, Key changes, Why QR introduce in PAN and all other Frequently Asked Questions answered

The Cabinet Committee on Economic Affairs (CCEA) has approved the Income Tax Department’s Rs. 1,435 crore project PAN 2.0. The initiative aims to simplify taxpayer services while enhancing efficiency and security, aligning with the government’s Digital India vision. Although it is illegal to have more than one PAN, there are several entities and individuals, who violate the law and the government is hoping that once the project is rolled out, it will be easier to check such instances.


(demo pic for public demand)

Key features of PAN 2.0

Unified portal for all PAN/ TAN related services:

Currently, PAN-related services are spread across three different platforms: the e-Filing Portal, UTIITSL Portal, and Protean e-Gov Portal. With the implementation of PAN 2.0 project, all PAN/TAN related services will be hosted on a single unified portal. This portal will handle PAN and TAN allotment, updation, correction, AADHAAR-PAN linking, Online PAN Validation (OPV), Know your Assessing Officer (AO), etc.

Paperless less processes and Free Services:

This is completely online paperless process. Further, allotment/updation/correction of PAN will be done free of cost and e-PAN will be sent to the assessee’s registered mail id. Assessee can obtain their e-PAN via email at no cost, while physical PAN cards will be available for a nominal fee i.e Rs. 50 (for domestic) and Rs. 65 (for outside India including India Post charges).

 

Frequently Asked Questions (FAQs):

My existing PAN become invalid and Do I need to apply new PAN under the upgraded system?

No, your existing PAN will remain valid and you do not need to apply new PAN. The absence of QR code on your PAN will not affect its validity.

What is the fees if want to upgrade to new PAN card?

If you obtain e-PAN in your registered mail id, its completely free of cost which is provide by the Income Tax Department but for physical PAN cards, will have to pay Rs. 50 (for domestic) and Rs. 65 (for outside India including India Post charges).

What is the purpose of QR code on the new PAN card?

The QR code is not a new feature, and it has been incorporated in the PAN cards since 2017-18. The same will be continued under PAN 2.0 project with enhancements (dynamic QR code which will display latest data present in PAN database). The QR helps in validating the PAN and PAN details like: Assessee’s photo, signature, Name, Father’s Name / Mother’s Name and Date of Birth.

Why is the government upgrading the PAN system?

The government aims to speedy service delivery with improved quality, ease of access and prevent duplicity in PNA card. This one-stop platform will handle comprehensively issues/matters related to PAN and TAN. A new PAN Data Vault will safeguard personal and demographic information. This project includes a dedicated grievance cell which improve grievance redressal mechanisms.

What about a person hold more than one PAN card?

As per the provisions of Income-tax Act, 1961, no person can hold more than one PAN. In case a person holds more than one PAN, he/she is obliged to bring it to notice of Jurisdictional Assessing officer and get the additional PAN deleted/de activated. In the PAN 2.0, with the improved systems logic for identification of potential duplicate requests for PAN.

Summarized:

The all-new PAN 2.0 project it's just an improvement of PAN/TAN database system for identification of potential duplicate requests for PAN and centralized single window portal for PAN/TAN related services and enhanced PAN database security and dedicated grievance mechanism for fastest queries resolve. If any person hold a PAN they need not to apply further New PAN under this upgraded system except any updation/ alteration or any changes.


How to calculate Cess on GST

Introduction   GST Cess basically known as GST Compensation Cess . Goods and Services Tax (Compensation to States) Act, 2017 was enacte...