What is PAN 2.0 project: Now the government is going to bring a new PAN card. It will have the facility of QR code. The government has approved a project worth Rs 1,435 crore. This project has been brought with the aim of improving the existing system of issuing ‘Permanent Account Number’ (PAN). The PAN 2.0 project aims to create a ‘uniform business identifier’ for all digital systems of government agencies. However, the PAN card you have will not be invalid.
Information and Broadcasting Minister Ashwini Vaishnav said that even after the launch of the PAN 2.0 project, the existing PAN held by individuals and businesses will remain valid and there will be no need to change their old number.
PAN is a unique 10 digit number issued by the Income Tax Department. In this, English letters along with numbers are also included in encrypted form. This number is issued exclusively to Indian taxpayers.
The project was approved in the Cabinet Committee on Economic Affairs (CCEA) meeting chaired by Prime Minister Narendra Modi on Monday. A financial outlay of Rs 1,435 crore has been made for this.
Information and Broadcasting Minister Ashwini Vaishnav told reporters about the decision that business establishments are demanding a ‘common business identifier’ instead of three-four different identifiers used for identification.
The project enables technology-driven transformation of taxpayer registration services. Its objective is ease of access and quick delivery of service with better quality.
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Other benefits of the PAN 2.0 project include single source and uniformity of data; Including eco-friendly processes and cost optimization and protection and optimization of infrastructure for greater agility. To safeguard the personal data recorded in PAN, ‘PAN Data Vault System’ will be mandatory for all entities using this data. Besides, the grievance redressal system under PAN 2.0 will also be strengthened.
According to an official statement, the PAN 2.0 project will enable the use of PAN as a common identifier for all digital systems of specified government agencies in line with the government’s vision rooted in Digital India.
This project is an e-Governance project brought to reengineer the business processes of taxpayer registration services through technology-driven transformation of PAN/TAN services for better digital experience of taxpayers.
According to the statement, this will be an upgrade to the existing PAN/TAN 1.0 framework which will also integrate PAN verification service with core and non-core PAN/TAN activities.
Commenting on the government’s decision, Preetin Kumar, Partner, Deloitte India, said, “The PAN 2.0 project aligns well with the government’s vision for digital tax administration. This is a welcome step.” At present around 78 crore PANs have been issued. Of these, 98 percent PANs have been issued to individuals. Input agencies Edited by : sudhir sharma
