PAN 2.0: Do you have multiple PAN Cards? The Cabinet Committee on Economic Affairs (CCEA) has recently given its green signal to the Income Tax Department’s PAN 2.0 initiative. This programme aims to modernise and digitise the administration of Permanent Account Numbers (PAN) and Tax Deduction and Collection Account Numbers (TAN), establishing a more user-friendly and effective framework enhancing accessibility.
It’s important to note that PAN 2.0 has more robust mechanisms to weed out duplicate PANs. The new PAN 2.0 system incorporates advanced security features, including dynamic QR codes and additional safeguards, according to experts. These built-in mechanisms are designed to identify and prevent any duplicate PAN card issuances automatically. In case you have more than one PAN Card, it’s important to surrender the additional PAN in order to avoid penalties.
Can one individual hold more than one PAN Card?
“As per the provisions of Income-tax Act, 1961, no person can hold more than one PAN. In case a person holds more than one PAN, he/she is obliged to bring it to the notice of the Jurisdictional Assessing officer and get the additional PAN deleted/deactivated. In the PAN 2.0, with the improved systems logic for identification of potential duplicate requests for PAN and centralized and enhanced mechanism for resolving the duplicates would minimize the instances of one person holding more than one PAN,” the Ministry of Finance has clarified in a recent press release around FAQs for PAN 2.0 project.
In case of holding more than one permanent account number, a penalty of Rs 10,000/- can be imposed under the Section 272B of the Income Tax Act.
How can you surrender your extra PAN?
- According to the Protean website, quoted in an ET report, the PAN Change Request Application form can be filled and submitted by simply mentioning the currently used PAN at the top of the form.
- Any other PANs otherwise allotted should be listed in item no. 11 of the form, and the corresponding PAN card copies should be submitted for cancellation along with the form.
Also Read: PAN 2.0 for free! How to get PAN Card with QR code with address update online; step-by-step guide
What is Project PAN 2.0?
The PAN 2.0 is a comprehensive platform designed to facilitate all matters related to PAN and TAN, including applications, updates, corrections, Aadhaar-PAN linking, re-issuance requests, and online PAN validation. Under PAN 2.0, new PAN cards that will be issued to taxpayers will have an enhanced QR code for better data security.
The PAN 2.0 initiative aims to implement PAN as a common business identifier across specified government agencies’ digital platforms. Currently, PAN services are distributed amongst three separate systems: e-Filing Portal, UTIITSL Portal and Protean e-Gov Portal. The new programme will consolidate these services into one comprehensive platform.