New Delhi, Nov 26 (FN Representative) The existing PAN (Permanent Account Number) card holders are not required to apply for new PAN under the upgraded system (PAN 2.0) which has been approved by the central government, apex direct tax policy-making body Central Board of Direct Taxes (CBDT) said on Tuesday. The Cabinet Committee on Economic Affairs (CCEA) chaired by Prime Minister Narendra Modi on November 25, 2024 approved the Income Tax Department’s PAN 2.0 project aimed at upgrading the existing PAN system and making it more user-friendly. The CBDT said in a press release on Tuesday that the PAN 2.0 project aims to streamline and modernize the process of issuing and managing PAN and TAN (Tax Deduction and Collection Account Number), making it more user-friendly and efficient.
“The existing PAN card holders are not required to apply for new PAN under the upgraded system (PAN 2.0),” the CBDT said in a Frequently Asked Questions (FAQs) released today. The apex direct tax body said that with an existing PAN database of 78 crore PANs and 73.28 lakh TANs, the PAN 2.0 project addresses the requirements of taxpayers, focusing on consolidation of multiple platforms/portals and efficient services to PAN/ TAN holders. Currently, PAN-related services are spread across three different platforms. With the implementation of PAN 2.0, all these services will be integrated into a single, unified portal. “This one-stop platform will handle comprehensively issues/matters related to PAN and TAN, including application, updates, corrections, Aadhaar-PAN linking, re-issuance requests, and even online PAN validation,” the CBDT said. It added, “By doing so, the Income Tax Department endeavours to simplify processes, eliminate delays, and improve grievance redressal mechanisms.”