In a move to modernize India’s tax system and improve taxpayer services, the Union Cabinet has approved the PAN 2.0 Project. With a financial outlay of ₹1,435 crore, the initiative promises to enhance the functionality of the Permanent Account Number (PAN) and make it a common business identifier across government systems.
What is PAN 2.0?
PAN 2.0 is an advanced system designed to enhance the efficiency and accessibility of the current PAN framework. The upgraded platform focuses on technological innovation, ensuring a smooth, user-friendly experience for individuals and businesses alike. PAN 2.0 aims to create a seamless, paperless experience for individuals and businesses alike. By consolidating core and non-core operations of the PAN and TAN systems into a unified digital portal, the project addresses long-standing inefficiencies. The unified portal will provide end-to-end online services, making registration, verification, and grievance redressal faster and more reliable. This shift is expected to greatly benefit the middle class and small businesses, which rely heavily on efficient processes for compliance and operations. A standout feature of PAN 2.0 is its focus on cybersecurity. The mandatory PAN Data Vault system ensures that any entity using PAN data complies with strict security protocols. By implementing advanced technologies, the initiative will prevent unauthorized access and misuse of sensitive taxpayer information.
Key Features of PAN 2.0
Universal Business Identifier
PAN will serve as a common business identifier for government digital systems in specified sectors, streamlining compliance processes.
Enhanced Security
Mandatory PAN Data Vault systems for entities and cybersecurity measures will ensure data protection.
Embedded QR Code
All PAN cards will feature QR codes for improved functionality and added security.
Unified Digital Portal
A paperless, online platform will consolidate PAN and TAN services, with a strong focus on grievance redressal.
Citizens Won’t Need to Reapply
One of the advantages of PAN 2.0 is that current PAN cardholders won't have to take any action. The upgraded system will automatically apply enhancements, including the QR code feature, at no additional cost. To ensures the transition is smooth and hassle-free for India’s 78 crore PAN cardholders, of which 98% are individuals the government’s will be embedding QR codes on all PAN cards to ensures secure authentication and verification processes.
Inputs by Agencies
Image Source: Multiple Agencies
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