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Before the PAN 2.0 launch, you can update your address, email, or mobile number online through Aadhaar-based services.
The Cabinet Committee on Economic Affairs (CCEA) recently approved a major overhaul of the PAN system with the introduction of PAN 2.0, a project launched by the Income Tax Department. This initiative aims to modernise and streamline the process of issuing and managing Permanent Account Numbers (PAN) and Tax Deduction Account Numbers (TAN). With the advent of PAN 2.0, questions are arising about the future of existing PAN cards. Will your current PAN card remain valid? Will you need to apply for a new one? Here’s everything you need to know:
Do You Need to Get a New PAN Card with PAN 2.0?
The short answer is no. Existing PAN holders will not be required to apply for a new PAN card unless they need to make updates or corrections. Your current PAN card will remain valid and unaffected under the new PAN 2.0 system, unless you decide to update your details or make corrections.
What is PAN 2.0?
PAN 2.0 is an e-governance initiative by the Income Tax Department aimed at improving the quality and efficiency of PAN services. This project focuses on modernising the taxpayer registration process, enhancing online services, and integrating PAN with Aadhaar data for better verification. The overarching goal is to streamline and automate various processes related to PAN allotment, updates, and corrections, making it easier for both individuals and institutions to manage their PAN information.
Additionally, the project will also include services for Tax Deduction Account Numbers (TAN) and provide online PAN verification services for government agencies, financial institutions, and banks.
Will You Need a New PAN Card Number?
No, you won’t need a new PAN number. Existing PAN holders will not be required to apply for a new PAN under the PAN 2.0 system. Your current PAN number will remain the same.
Can You Update or Correct Your PAN Details?
Yes, PAN holders will have the option to update or correct their PAN details, such as name, address, date of birth, and contact information (email or mobile number), under the PAN 2.0 project. These updates will be free of charge.
Before the PAN 2.0 launch, you can update your address, email, or mobile number online through the following Aadhaar-based services:
- NSDL PAN Update Link – https://www.onlineservices.nsdl.com/paam/endUserAddressUpdate.htm
- UTI PAN Update Link – https://www.pan.utiitsl.com/PAN_ONLINE/homeaddresscha
For other updates or corrections, such as changes to your name, date of birth, or other personal details, you can apply either online (with a payment) or visit a physical PAN service center.
Do You Need to Change Your PAN Card Under PAN 2.0?
No, you do not need to replace your existing PAN card unless you need to update your information. The current PAN card will continue to be valid under the new PAN 2.0 system.
What About the QR Code on PAN Cards?
The dynamic QR code is not a new feature under PAN 2.0. This technology was already introduced in 2017-18. However, under the PAN 2.0 system, the QR code will be enhanced to provide real-time, updated data from the PAN database. If your current PAN card does not have a QR code, you can apply for a new card that includes this feature.
This updated PAN card with a dynamic QR code will provide more secure, accessible, and accurate data at a glance.
What Should You Do If You Have More Than One PAN Card?
Holding multiple PAN cards is illegal under the Income Tax Act, 1961. If you find that you possess more than one PAN card, you must inform the relevant Assessing Officer and take steps to deactivate the extra cards. PAN 2.0 includes enhanced features to identify duplicate PAN requests and will help prevent the issuance of multiple PAN cards to the same individual.
The new system will be more efficient in detecting and resolving duplicate PANs, ensuring compliance with the law.