PAN 2.0: What's there in the Cabinet decision for existing holders?

Permanent Account Number (PAN) is the most important document for an Indian taxpayer. PAN, issued by the Income Tax Department, is crucial for any financial transaction. Be it the opening of an account, income tax filing, opening a business entity and purchasing property among others, the PAN is of utmost importance as through this document, the taxation department keeps a check on anyone's income which is corroborated with their annual return filing. Having such a crucial importance, there will be hardly any individual who does not possess a PAN card. In line with that, the cardholders must emphasise the recent Cabinet decision regarding PAN 2.0.

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