new PAN 2.0 in India

This video provides an update on PAN cards in India, including the new PAN 2.0 system and the requirement to link a PAN with an Aadhaar card.

Key points from the video include:

PAN 2.0: The central government approved PAN 2.0 in November 2024. The new system is expected to be implemented within the next year and a half, and the contract for the project has been awarded to LTI Mindtree.

Aadhaar Linking: New PAN card applications require an Aadhaar card and verification. The deadline to link existing PAN cards with an Aadhaar card is December 31st, and cards not linked by this date will become inactive next year. This is a measure to prevent tax evasion and the spread of fake PAN cards.

Validity and Penalties: A PAN card is valid for a lifetime and does not need to be renewed. It is illegal to hold more than one PAN card, and doing so can result in a fine of up to 10,000 rupees and legal action.

Changes with PAN 2.0: Existing PAN card holders do not need to apply for a new card under the PAN 2.0 system unless they require a reprint or correction. When the new system launches, corrections to personal details will be free of charge.