What is PAN 2.0?

Permanent Account Number (PAN) is a unique ten-character alphanumeric identifier for individuals and all types of entities. It is required to undertake any kind of financial transactions and income tax purposes.

The Union cabinet on 25 November 2024 approved Pan 2.0 project of the Income Tax Department with an outlay of Rs. 1435 crore. This project will consolidate all PAN and TAN (Tax Deduction and Collection Account Number) activities including validation service. Through this, the Government wants to promote PAN as Common Identifier for all digital systems of specified government agencies.

What does PAN 2.0 aim to do?

1. Simplified single portal for all PAN & TAN-related services - allotment, updation, correction, online PAN validation, know your AO, Aadhaar-PAN linking, e-PAN, PAN re-print of PAN card etc.

2. End to end paperless processes - quicker turnaround time for services

3. Taxpayer facilitation - lowering of cost of services for users

4. Dynamic QR Code - will display latest taxpayer data. Also, dedicated application for data verification

Changes for existing PAN holders

No need to worry. Existing PAN are valid and there is no need to apply for a new PAN. This project is only a backend upgradation of systems.