Prime Minister Narendra Modi’s Cabinet Committee on Economic Affairs (CCEA) made a significant pronouncement about PAN Card. It is anticipated that the Center’s announcement about the launch of the PAN 2.0 project will result in reduced expenses for fintech firms. With a budget allocation of ₹1,435 crore has been sanctioned a hefty budget allocation of ₹1,435 crore.
One of the most notable features of PAN 2.0 is the addition of an embedded QR code making it easier for users to access their tax information. PAN will streamline procedures and enhance data consistency. It combines PAN and Tax Deduction and Collection Account Number (TAN) services’ core and non-core operations into a single digital ecosystem.
The current PAN card will stay valid and will automatically update, including the new QR code function, without having to do anything. This will prove beneficial for all users by simplifying interactions and reducing the environmental impact of traditional paper-based systems.
The new system is easy to apply for. Go to the “Instant e-PAN” section of the Income Tax Portal and enter your Aadhaar number. Your registered email address will receive the produced e-PAN after the details have been confirmed with an OTP.
