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The PAN 2.0 Project is being built at an estimated cost of Rs 1,435 crore and will provide ease of access and speedy service delivery.
Union I&B Minister Ashwini Vaishnaw announced the PAN 2.0 Project. (ANI)
The Union Cabinet on Monday approved the PAN 2.0, where it will roll out a free-of-cost upgrade to the PAN Card with a QR Code, announced Union Information and Broadcasting Minister Ashwini Vaishnaw.
According to an official statement, the Cabinet Committee on Economic Affairs (CCEA), chaired by the Prime Minister Narendra Modi, has given its approval for the PAN 2.0 Project of the Income Tax Department.
The ambitious project is being built at an estimated cost of Rs 1,435 crore. “The existing system will be upgraded and the digital backbone will be brought in a new way… We will try to make it a common business identifier. There will be a unified portal, it will be completely paperless and online. The emphasis will be on the grievance redressal system,” said Union Minister Vaishnaw during a Cabinet briefing.
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He further said all PAN, TAN services will be integrated together to build a common business identifier, which was a long-standing demand from the commercial world. He further said a PAN data vault system would be made mandatory for all entities using PAN data so that the data provided by consumers can be kept safe.
What is PAN 2.0 Project?
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 the 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, according to the CCEA. The project seeks to enable technology-driven transformation of taxpayer registration services with multiple benefits like:
- Ease of access and speedy service delivery with improved quality
- Single source of truth and data-consistency
- Eco-friendly processes and cost optimization
- Security and optimization of infrastructure for greater agility
During the cabinet meeting, Vaishnaw showed that 78 crore PAN Cards have been distributed to people, 98 per cent of them individuals, and this new project will upgrade the existing system used by taxpayers. The project also comprises a common business identifier for all business-related activities and a unified portal for all activities.
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