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NewsTranscript
00:00Like Aadhaar Card, PAN card not only shows your identity, but many financial tasks are not possible without it.
00:11PM Narendra Modi's Chief Executive, Central Cabinet has taken a big decision regarding this important document.
00:18PAN 2.0 project has been stamped in the meeting.
00:22And after this, your PAN card will change and a new QR code PAN card will come.
00:28So let's know what will be the changes in this new QR code PAN card.
00:35Will your old PAN card become invalid or will you get a new PAN number?
00:40I will tell you everything in detail in this video.
00:42The Modi government has approved PAN 2.0 and now you will get to see a new QR code PAN instead of the old PAN card.
00:51Union Minister Ashwini Vaishnav told us about the big decisions taken in the Cabinet meeting.
00:57Central Government will start PAN 2.0 and this is a PAN upgrade.
01:03Especially, a big document to expose the identity of taxpayers will be proved to be more beneficial.
01:10Ashwini Vaishnav told us that PAN 2.0 project is an e-governance initiative.
01:15Its motive is to make PAN services, PAN authentication and core and non-core PAN activities easy and secure.
01:23She said that the target of this project is to provide taxpayers with a better digital experience.
01:30Currently, the old PAN card is being used in the country which has been going on since 1972.
01:36And the section of Income Tax is issued under section 149A.
01:42If we look at the number of PAN card holders in the country, more than 78 crore PAN have been issued.
01:50Which covers 58% of the individuals.
01:54Let me tell you that PAN number is an alphanumeric identity proof of 10 numbers which is issued by the Income Tax Department.
02:02Through PAN number, Income Tax keeps an eye on any person's online or financial transactions.
02:08Now let's talk about how the new PAN will be different from the old PAN.
02:12So let me tell you that through PAN 2.0 project, you will get to see a big change from these QR code PAN cards.
02:22In this, you will get many benefits from the registration of taxpayers.
02:27Due to being completely digital, all services related to it can be accessed easily.
02:33Apart from this, the card holder's data will be even more secure.
02:37The special thing is that taxpayers will be issued a QR PAN for free.
02:42On this project of the Modi government, it is estimated that a financial burden of 1435 crores will fall.
02:49Union Minister Ashwini Vaishnav has said that PAN card holders will not need to change their PAN number.
02:56The new PAN 2.0 will be presented as an improvement in the existing PAN system.
03:01He has also said that the new card will have a QR code for scanning and it will be completely online.
03:09So what is your opinion on this PAN card upgrade?
03:12Let us know in the comment box.
03:14And for such updates, keep watching Good Returns.
03:17Don't forget to like and subscribe to our channel.