The income tax department has issued the FAQs on the PAN 2.0 project clarifying that taxpayers who already have a PAN need not apply for a new PAN. The PAN 2.0 project allows existing PAN card holders to make any correction and updation in PAN card details for free of cost after the project starts its operations.

The FAQs are released by the income tax department on November 26, 2024

Here are the FAQs issued by the income tax department to help the taxpayers.

1. Whether existing PAN card holders will be required to apply for a new PAN under the upgraded system? Do you need to change your PAN number?
No. The existing PAN card holders are not required to apply for a new PAN under the upgraded system (PAN 2.0).

2. Do I need to change my PAN card under PAN 2.0?
No. The PAN card will not be changed unless the PAN holders want any updation and correction. The existing valid PAN cards will continue to be valid under PAN 2.0.