A Holographic Shield for Your PAN Card

Indian Income Tax has recently added a hologram QR code feature to the existing PAN cards. This step has been taken as part of the government’s various drives towards digitization and improvement of the authentication and verification mechanism. In this article, why this new change has come up and how it will be of advantage to the Indian taxpayers will be explained.

Given that the Indian government has recently promoted the concept of a cashless economy and less paperwork, it became logical to incorporate QR codes into PAN cards. The core benefit the signed QR codes will offer the user is the ability to share PAN card information without carrying around a card. This will reduce the incidence of fake PAN cards and also be authentic.

From the Desk of the National Security Department

New-generation PAN cards with Quick Response (QR) codes are relative innovations from the National Securities Depository Limited (NSDL), the only legal issuer of PAN cards in India. The cardholder’s name, date of birth, address, and PAN are permanently embedded in the QR code of the new PAN card. The changes will assist in minimizing the authentication between businesses and other entities, financial institutions, and government agencies.

Streamlined Verification & Enhanced Security

QR code integration in the PAN cards was a slow process because of the issues involved in implementing the technology. However, most of the difficulties mentioned above have been tackled with technology and professional assistance, and the Income Tax Department has been able to implement QR codes on the PAN cards.

The advantages associated with this new feature are as follows. To begin with, it will aid in fighting cases of fake PAN cards since the utilization of the QR code helps analyze actual details in instances of the cardholder. This will even allow the government to extend their hard-working and sincere mission of providing India with a sound, efficient, and less corrupt taxation system.

Secondly, the QR code will enhance a taxpayer’s ability to share the PAN card details with the relevant institutions, banks, and other institutions without completing physical forms or providing a physical PAN card. This will save time and effort and minimize human error that may be occasioned by typing in the relevant information.

Besides this, businesses and government organizations will also reap the benefits of this new feature in enhancing the verification process of PAN cards. All the details regarding the cardholder will be handled with one click using the QR code. As a result, verification of a cardholder will not be time-consuming.

Ease of Tax Returns

The other benefit of new PAN cards with QR codes is that preprocessing tax returns and payments will take less time. Since all the information is available in the QR code, taxpayers can easily file returns and make payments online; thus, there is a low possibility of having incorrect figures.

To ensure ease for the taxpayers, the Income Tax Department will issue new PAN cards with QR codes and existing PAN cards. In this case, the taxpayers will be sure that they will be able to understand the new PAN card format and accept the QR code feature.

Conclusion 

Given this, using Pan 2.0 QR codes on newly issued PAN cards may be a step toward making the tax return process more efficient and convenient in India. With this new feature, the government seeks to eliminate fraud and increase public accountability and time efficiency for verifying and authenticating users. With the country heading towards a cashless economy, introducing QR codes printed on PAN cards will benefit taxpayers, allowing them to share PAN card details conveniently while making the tax compliance process more effective.