The Permanent Account Number (PAN) is an essential part of India’s financial system, helping with everything from tax filing to managing investments. To make the process of getting and using a PAN card easier and more secure, the
Indian government has introduced PAN 2.0. This new update will make it simpler for residents and NRIs (including foreign citizens and OCIs) to use PAN cards for their financial transactions in India.
PAN 2.0 is a major update to India’s already installed PAN infrastructure, which aims to make the process of getting and managing a PAN card much easier, faster, and more secure. This initiative was approved by the Cabinet Committee on Economic Affairs (CCEA) on November 25, 2024, with a budget of ₹1,435 crore. The project will focus on using new technology to improve how PAN cards are issued and managed.
Secure QR Code: One of the big changes with PAN 2.0 is the introduction of an updated QR code on the PAN card. This QR, which has been part of the PAN card since 2017, will now be more advanced. It will allow anyone to easily scan and verify the authenticity of the card. The code will also show the cardholder's personal details like their name, photo, signature, parents’ names, and date of birth.
Simplified Application Process: The PAN application process for a PAN card will be simpler. You can apply for a PAN card online or at designated centers like UTIITSL or Protean (formerly NSDL eGov). NRIs and foreign citizens will be able to use these online platforms to apply for a PAN number, and the new rules under the new version will likely make the process even easier.
Unified Portal for allotment: Currently, PAN services are spread across different websites. With 2.0, all PAN/TAN-related services will be combined into one portal hosted by the Income Tax Department. This means you can handle all PAN-related tasks like updating it, checking validity, and requesting a reprint, all in one place.
Free Issuance: Under the PAN 2.0 project, issuing a PAN card will be free of charge. However, if you need a physical PAN card, there will be a small fee (₹50 for domestic delivery and ₹15 + India Post charges for international delivery). The e-PAN will be sent to your email for quicker processing.
Enhanced Security: PAN 2.0 will improve security by protecting personal and demographic data. The system will use stronger security measures, including a PAN Data Vault, to prevent data breaches.
Faster and Paperless Procedure: The process will be quicker and more eco-friendly. The new version (2.0) will focus on paperless methods, making it faster to apply for and receive a PAN card globally. The goal is to reduce the amount of paperwork and make the entire process more efficient.
NRIs and foreign citizens who need a PAN card for tax purposes, financial transactions, or investments in India will benefit from the changes in PAN 2.0. If you are an non-resident Indian or a foreign citizen planning to invest or carry financial transactions in India, or file taxes, you will need this identity proof. The updated system will make it easier to manage your PAN-related tasks and enhance security.
Note: If you already have a PAN card, you do not need to worry about getting a new one. Your existing PAN card will still be valid. However, if you want an updated card with the new QR code, you can apply for it.
Important Update!
Please be advised that as of 29th November 2024 (when this page was last updated), the PAN 2.0 system is not yet fully implemented, and it’s too soon to say exactly when it will be.
The bill was passed on the 25th of November 2024, and the government will soon begin informing agencies and rolling out the new system. Until then, the current PAN card remains valid for both Indian residents and NRIs living overseas, and the existing procedures for applying, including for NRIs, will still apply.
Once PAN 2.0 is launched, we’ll update this page with the latest details. Bookmark this page or contact us to stay informed.
NRIs - Ask your questions
Version 2.0 aims to make the application process easier for NRIs, foreign nationals, and OCI holders. Though not yet implemented, it will offer a single portal for all PAN services, faster processing, free e-PAN issuance, and better security with a dynamic QR code. The system will be paperless, reducing the need for physical documents, and updates will be free. Once implemented, it will streamline tax and financial management for those living abroad. Stay tuned for updates on the new system.
The PAN 2.0 project follows global standards for secure and seamless services. It adopts certifications like ISO 27001 (for security) and ISO 9001 (for quality management). This means that your data will now be handled with the highest level of security, ensuring a safe experience while applying for and using your permanent account number. And the good news is that the e xisting PAN cardholders (both resident Indians and NRIs) do not need to change their existing cards under the new project, unless they require an update or correction, as their current PAN card will remain valid even after the new system is fully implemented, provided their details are correct and up to date.
At this moment, it is too soon to say exactly when the PAN 2.0 system will be fully implemented. The bill has already been passed, and the government will soon begin informing all relevant agencies and start working on rolling out the new system. Until the new system is officially launched, the current PAN card will remain valid, and the existing procedures for applying for a new PAN, laid out by the Income Tax Department Of India , still apply. This includes the process for NRIs as well.
Once the new PAN 2.0 system is implemented, we will update this page with the latest procedures and details for NRIs and others. So, be sure to bookmark this contact us here . We will make sure to inform you as soon as the right information becomes available.
The 2.0 initiative is a big step forward in modernizing India's tax and financial systems. With simpler processes, better security, and more efficient services, it will be much easier for NRIs and foreign citizens to manage their PAN cards. Whether you are filing taxes, making investments, or completing other financial transactions in India, PAN 2.0 will make the experience smoother and more secure.
For now, NRIs and foreign citizens should continue to follow the existing process for applying for a PAN card, but be on the lookout for updates as PAN 2.0 is rolled out. Stay informed to ensure you make the most of these new benefits.
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Disclaimer: The information provided on this website/webpage is for general informational purposes only and is based on current developments related to the PAN 2.0 system as of 29th November 2024. While we strive to offer accurate and up-to-date information, we, our owners, affiliates, or anyone involved in managing this website, do not accept any liability for the completeness, accuracy, or reliability of the content. We recommend that you conduct your own due diligence or consult the official Income Tax Department of India for the most accurate and current details. Pancard.co.uk and its owners/affiliates are not responsible for any actions taken based on the information provided here. All information is shared with proper references to government hyperlinks, but we still encourage users to verify details independently.
