"New PAN 2.0 System to Identify Duplicate PANs: Surrender Soon to Avoid Rs 10,000 Penalty"
The central government has clarified that it is completely optional for taxpayers to get the new PAN 2.0 if they already have a valid Permanent Account Number (PAN). However, if you happen to find that you have a duplicate PAN then do not panic, immediately surrender it to avoid violating the law. Having said that, if you are not sure whether you have a duplicate PAN issued using your documents, then it might be a good idea to check right now. This is because the government has made clear its intention of removing duplicate PANs from the system and of using technology to catch offenders.
Read below to find out how to check whether you have a duplicate PAN and what to do if a duplicate PAN exists in your name.
The government can track duplicate PAN under the new PAN 2.0 project The government has the technology necessary to check for duplicate PANs. "As per the provisions of Income-tax Act, 1961, no person can hold more than one PAN. In case a person holds more than one PAN, he/she is obliged to bring it to the notice of the Jurisdictional Assessing officer and get the additional PAN deleted/de-activated. In the PAN 2.0, with the improved systems logic for identification of potential duplicate requests for PAN and centralized and enhanced mechanism for resolving the duplicates would minimize the instances of one person holding more than one PAN," said the ministry of finance in a press release dated November 26, 2024.
Experts say that the PAN 2.0 has in-built security measures like a dynamic QR code and others which will automatically detect duplicate PAN issuances.
Faranaaz G Karbhari, Counsel, HSA Advocates, says: "With the new PAN 2.0 coming into operation, a QR code will be added to the PAN card making it easier for the government departments to detect if a person possesses more than one PAN card. If a person is found possessing two PANs it will lead to stringent penalties being inflicted on him/her. The QR code will also enable quick scans and more online functions. It is claimed that this will make the entire system digital and give it more security and effectiveness."
