The Union government has approved the PAN 2.0 Project, aimed at modernizing and re-engineering the taxpayer registration process through advanced technology.
The Cabinet Committee on Economic Affairs (CCEA), chaired by Prime Minister Narendra Modi, sanctioned Rs 1,435 crore for the initiative on November 25, according to a release by the Press Information Bureau.
The project seeks to upgrade the Permanent Account Number (PAN), a 10-digit alphanumeric identifier issued by the Income Tax Department, into a comprehensive tool for taxpayer registration and compliance.
Features of the Project
1. Unified Business Processes: Existing PAN and TAN systems will be integrated under a unified framework, encompassing core and non-core allied activities, such as PAN validation services.
2. QR Code on PAN Cards: PAN cards, both new and existing, will now feature a QR code, enhancing their utility for verification and integration with digital systems.
3. Common Digital Identifier: PAN is set to become a universal identifier for various government agencies’ digital systems, simplifying compliance processes for businesses.
4. Technological Advancements: The project will leverage technology to ensure eco-friendly, efficient, and cost-optimized processes while enhancing the agility and security of the underlying infrastructure.
Expected Benefits
• Ease of Access: Improved taxpayer services with faster and more reliable delivery.
• Data Consistency: PAN will act as a single source of truth across systems.
• Eco-Friendly Initiatives: Paperless processes to optimize costs and reduce environmental impact.
• Enhanced Security: Robust infrastructure to safeguard sensitive taxpayer data.
Union Information and Broadcasting Minister Ashwini Vaishnaw claimed that the initiative will not only modernize PAN systems but also strengthen the government’s efforts to establish PAN as a cornerstone of India’s digital and financial architecture.
Further details, including implementation timelines and procedural guidelines for upgrading existing PAN cards, are expected to be released soon by the Income Tax Department.
Comments (0)
Leave a Comment