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PAN 2.0: To eliminate duplicate PAN cards, the government has launched PAN 2.0 project. In which PAN card holders will get a new PAN card with hi-tech features. In such a situation, now those who have duplicate PAN card. They should be careful, as the features of PAN 2.0 will make it very easy to catch people with duplicate PAN cards.
The government has made it clear that no one will have to apply for PAN 2.0. The government will automatically distribute new PAN cards to the people. Your old PAN card will remain valid until you get a new hi-tech PAN card. Let us know what is the punishment for having duplicate PAN card.
This penalty will be imposed on duplicate PAN card
If you have more than one PAN card, your second PAN card is a duplicate. If you do not surrender it, a fine of Rs 10,000 can be imposed on you under Section 272B of the Income Tax Act. In such a situation, those who have a duplicate PAN card should surrender it to NSDL or UTIITSL.
PAN 2.0 will have these features
QR Code: The new PAN card will have a scanning facility, with a QR code attached to it. QR code will make PAN verification easier and the entire process will be online.
Simple interface for banking: It will be a robust and simple interface for all banking and financial services, making it easier to process transactions by banks.
Integrated Portal: In PAN 2.0, PAN is required for every task. A single portal will be provided for all these, making it easier for taxpayers to manage their PAN accounts.
Common Business Identifier: Corporate companies demand that they should have different types of numbers, but now it is not so. Only one PAN card will be used for all work related to small and big business.
Cyber security: Keeping in view the frauds caused by PAN. PAN 2.0 will be equipped with cyber security features, which will help in preventing cyber fraud in future.