The Income Tax Department will send a new one for free PAN card with QR code until then your old PAN card will work.
Question- How different will the new PAN card be?
Answer- According to Union Minister Ashwini Vaishnav This new version of PAN Card (PAN Card 2.0) will only have new features. There will be no change in people’s PAN number. Your number will remain the same. A QR code will be given on this card. It will contain all the information of taxpayers. With the new PAN card with qR code, things like paying tax, registering a company, opening a bank account will become easier.
Question- Will my existing PAN card be closed?
Answer- No, upgrading old PAN card or issuing new PAN card will not change the number i.e. your PAN number will remain the same. If the PAN number is to remain the same, it is clear that there is no question of the old card becoming useless. Ashwini Vaishnav also clearly said that old PAN card will not be considered invalid. You will continue to do all your work with old PAN card till the new card reaches your hands.
Question- Will we get new PAN card free?
Answer- Yes you will get a new PAN card free of charge, existing PAN card holders need not to apply anywhere or fill any form for new card. New PAN Card will be sent to your home by Income Tax Department.
Question- What new features will be available in the new PAN card?
Answer- The new card will have QR code facility. In the new PAN card, the technology of the card will be completely upgraded, so as to make its use easy and secure. An integrated platform will be created for all services related to the PAN card. Security features will also be installed in the new PAN card to prevent fraud and provide financial security to the cardholder.
Question- Why is a new PAN card required?
Answer- According to Ashwini Vaishnav Currently the software that operates the PAN card is 15 to 20 years old. These softwares often cause problems. Hence, the system will be prepared digitally in the new PAN card. so that things like complaints, transactions, tax filing can be processed quickly. Apart from this, the new PAN card system will also prevent fake PAN cards and fraud. The new system is needed because PAN card will act as universal ID in future.