November 27, 2024 (Punjab Khabarnama Bureau) -Existing PAN cards will continue to remain valid under the PAN 2.0 project with users supposed to automatically receive an electronic version of it in their mail ID, without applying for it.
However, those who want a physical card will have to apply and pay ₹50 for it if they live within the country, according to the income tax department.
“If existing PAN holders want to make any correction/updation of their existing PAN details such as email, mobile or address or demographic details such as name, date of birth etc, they can do so at free of cost after the PAN 2.0 Project commences,” the Central Board of Direct taxes said in a set of FAQs. “Till the time the PAN 2.0 project is rolled-out, the PAN holders can avail the Aadhaar based online facility for updation/correction of email, mobile and address free-of-cost.”
The FAQs were released a day after the cabinet committee on economic affairs (CCEA) cleared the ₹1,400 crore project.
Apart from this, the department also said that QR codes will be part of the project, but that the feature has already been rolled out for validating PAN and other details.