PAN Update: New PAN card will be issued with QR code for identification of taxpayers. See full details

Cabinet Decision: PAN Card issued for identification of taxpayers will now be issued with QR Code so that the digital experience of taxpayers can be enhanced. The Cabinet Committee on Economic Affairs (CCEA) chaired by Prime Minister Narendra Modi has approved the launch of PAN 2.0 project.

The purpose of this decision of the government is to use PAN as the main identifier in all digital systems of government agencies. The government will spend a total of Rs 1435 crore on this project.

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PAN with QR code will be issued free of cost

The PAN 2.0 project will help bring about a big change in the registration services of taxpayers through technology. Taxpayers will get many types of benefits. In which they will be able to access the services easily, the delivery of services can be accelerated, the quality will improve, all the information will be available in one place, data will be safe, eco-friendly process will help in reducing costs. PAN will be used as a common identifier for the digital system of government agencies, which also matches the government’s vision of Digital India. Information and Broadcasting Minister Ashwini Vaishnav said that in the PAN 2.0 project, a new PAN card with QR code will be issued free of cost to the taxpayers.

78 crore PANs have been issued

The PAN 2.0 project is an e-governance project to redesign the business process of registration services for taxpayers through technology-driven transformation of PAN/TAN services for a better digital experience of taxpayers. The government said in its statement that it will be an advanced form of the existing PAN/TAN 1.0 framework which will also integrate PAN verification service with core and non-core PAN/TAN activities. So far, about 78 crore PANs have been issued in the country, out of which 98 percent PANs have been issued at the individual level.

What is PAN?

PAN number is a 10 digit alphanumeric identity card issued by the Income Tax Department. This card is issued to any person who applies for a PAN card. Through the PAN number, Income Tax keeps an eye on any person’s online or financial transactions. Also, PAN is the most important identity card for doing all types of financial transactions in the country, just like Voter ID is for voting.

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