There is big news for Indian PAN holders. While giving information, Information and Broadcasting Minister Ashwini Vaishnav had told how old PAN card holders can upgrade their PAN card. In fact, in the cabinet meeting chaired by Prime Minister Narendra Modi on Monday, November 25, the Cabinet Committee on Economic Affairs had approved the PAN 2.0 project of the Income Tax Department. The government will spend around Rs 1435 crore for this project.
How to upgrade old PAN card
Let us tell you that the existing PAN card has been in use for a long time. There was a demand to upgrade it. Under which the Government of India has taken an important decision. Under the PAN 2.0 project, existing PAN card holders, who are around 78 crore in the country, will be able to upgrade their PAN cards. For existing users, the PAN number will remain the same, but the card can be upgraded. Giving information on behalf of the government on Monday, Information and Broadcasting Minister Ashwini Vaishnav said that any consumer or card holder will be able to upgrade his PAN card without any fee. At present, to start this process, a notification will be issued by the Income Tax Department later regarding the application process and time limit.
PAN 2.0 is more advanced
According to government sources, in order to further simplify the income tax system, the Government of India has prepared the PAN 2.0 project to technically simplify the registration of tax payers. Which will provide easy service with better quality to the taxpayers. In this scheme, complete details of taxpayers will be available at one place. This will be more useful at lower cost. Not only this, data security in the new project will be better than before. PAN 2.0 project will be advanced and streamlined compared to the existing PAN 1. This PAN 2.0 will also be valid as an identity card for all government agencies.
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