Facility of instant verification will be available with the new PAN card.
The Union Cabinet, led by Prime Minister Narendra Modi, on Monday this week had approved a project worth Rs 1,435 crore to issue new generation PAN cards with QR codes. This project, which will be implemented from next year, has been brought with the aim of making the existing system of issuing PAN advanced. With the implementation of QR code based advanced system under the PAN 2.0 project, identification of fake cards will become easier and taxpayers will not be able to hold more than one PAN card. Not only this, it will be very difficult to commit fraud with the new PAN card and common people will get a lot of protection from it.
Facility of instant verification will be available with the new PAN card.
The Income Tax Department has said that it is not mandatory for people who already have PAN cards to apply for a new card. If a person wants to make any correction or update in his existing PAN card, then he can apply for a new card under the PAN 2.0 project. According to experts, the risk of fraud reduces significantly with the new upgraded PAN card with QR code under PAN 2.0. Along with this, the facility of instant verification will also be available through the new PAN card.
How will common people get protection from fraud?
The new PAN card will come with a QR code, so it is very difficult to make a duplicate card or tamper with it. QR codes contain encrypted personal data that can only be seen by authorized people using specific software. Therefore, it will be very difficult for fraudsters to extract details from new cards and the risk of misuse of your personal details will also be reduced. Usually, fraudsters change the name and photo on your PAN card, while the PAN number remains the same. With QR code on PAN, financial institutions will be able to easily verify your personal details instantly.
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