PAN Card 2.0 with QR code: Is existing PAN card invalid, fees, why QR code and all other important questions answered

The Cabinet Committee on Economic Affairs (CCEA) has approved the Income Tax Department’s Permanent Account Number (PAN) 2.0 Project. This project aims to streamline and modernise the process of issuing and managing PAN and TAN, making it more user-friendly and efficient. In line with the Budget 2023 announcement, the government has decided to make PAN the “common business identifier” for all digital systems of specified govt agencies. Although it is illegal to have more than one PAN, there are several entities and individuals, who violate the law and the government is hoping that once the project is rolled out, it will be easier to check such instances. Currently there is a database of 78 crore PANs and 73.3 lakh TANs in the country. Here’s all you need to know about the PAN Card 2.0.