The PAN 2.0 Project enables technology driven transformation of Taxpayer registration services and has significant benefits
FinTech BizNews Service
Mumbai, 25 November, 2024: The Cabinet Committee on Economic Affairs (CCEA), chaired by the Prime Minister Shri Narendra Modi, has given its approval for the PAN 2.0 Project of the Income Tax Department.
The financial implications for the PAN 2.0 Project will Rs.1435 crore.
The PAN 2.0 Project enables technology driven transformation of Taxpayer registration services and has significant benefits including:
i. Ease of access and speedy service delivery with improved quality;
ii. Single Source of Truth and data consistency
iii. Eco-friendly processes and cost optimization; and
iv. Security and optimization of infrastructure for greater agility.
PAN 2.0 Project is an e-Governance project for re-engineering the business processes of taxpayer registration services through technology driven transformation of PAN/TAN services for enhanced digital experience of the taxpayers. 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 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.
