New Delhi: The PAN 2.0 Project of the Income Tax Department was given the green signal by the Cabinet Committee on Economic Affairs (CCEA), chaired by Prime Minister Narendra Modi. The PAN 2.0 Project will cost Rs 1435 crore.
The PAN 2.0 project is aimed at enhancing the country’s PAN system and streamlining business and citizen-centric operations. The project will enable upgradation of the 10-digit alphanumeric Permanent Account Number (PAN), with a QR code incorporated in all new and old cards.
The government is launching the PAN 2.0 Project with an aim to enhancing digital experience of the taxpayers by re-engineering the business processes of taxpayer registration services by using technology-driven transformation of PAN/TAN services.
Giving details about the PAN 2.0 Project, the CCEA said it would be technology driven transformation of taxpayer registration services aimed at ease of access and speedy service delivery with improved quality and following benefits:
Single Source of Truth and data consistency
Eco-friendly processes and cost optimisation
Security and optimisation of infrastructure for greater agility
“The PAN 2.0 Project resonates with the vision of the Government enshrined in Digital India by enabling the use of PAN as Common Identifier for all digital systems of specified government agencies,” the government release said.
“This will be an upgrade of the current PAN/TAN 1.0 eco-system consolidating the core and non-core PAN/TAN activities as well as PAN validation service,” the release said.
“The PAN 2.0 will be an upgrade of the current PAN/TAN 1.0 eco-system consolidating the core and non-core PAN/TAN activities as well as PAN validation service. The PAN 2.0 Project resonates with the vision of the Government enshrined in Digital India by enabling the use of PAN as Common Identifier for all digital systems of specified government agencies,” it added.
The PAN 2.0 Project will ensure that a QR code is incorporated in all new and old PAN cards which will help ‘re-engineering the business processes of taxpayer registration services’. Personal Finance Business News – Personal Finance News, Share Market News, BSE/NSE News, Stock Exchange News Today
