Project PAN 2.0: The Union Cabinet, led by Prime Minister Narendra Modi, has given the green light to the PAN 2.0 Project, which comes with a hefty investment of ₹1,435 crore. This initiative aims to completely transform the digital experience for taxpayers throughout India. The Permanent Account Number (PAN) 2.0 is set up as an e-Governance project to revamp the current system for registering taxpayers. It promises to bring a tech-driven change to both PAN and Tax Deduction Account Number (TAN) services, enhancing the overall digital experience for users. Upgrading the Existing System- The current PAN/TAN 1.0 setup will be improved, combining essential and non-essential activities while adding new features like QR codes on PAN cards for easier verification and better security . Going Paperless– The system will shift to being completely online, which means less reliance on physical documents and a smoother process for everyone involved.
Single Identifier for Businesses– PAN will act as a universal identifier for business activities across various government digital platforms, making compliance and integration much simpler QR Code Features- Each PAN card will have a QR code, allowing for quick access and verification of taxpayer information. Unified Portal- A new single portal will be created to handle all PAN-related services, aiming to provide a seamless experience for users. Improved Security- The project will focus on cybersecurity to safeguard taxpayer data from potential threats. Eco-Friendly Approach- By transitioning to digital solutions, this initiative will also support environmental conservation while cutting costs.
No Need for New Applications- One of the best parts for current PAN holders is that they won’t have to apply for a new PAN card. The upgrade to PAN 2.0 will happen automatically and at no cost, ensuring that existing PAN numbers stay valid. This should make things easier for taxpayers while still offering the benefits of the new system.
Union Minister Ashwini Vaishnaw pointed out that PAN 2.0 is more than just an upgrade of a card or number; it’s about changing how taxpayers interact with government services. With over 78 crore PANs issued, mostly to individuals, this project is set to impact a large number of people, making tax-related processes more user-friendly and efficient.Overall, this project is expected to streamline tax compliance, speed up the resolution of grievances, and give a significant boost to India’s digital economy. By making PAN a common identifier, it will reduce the number of different identification numbers businesses need, simplifying operations across various sectors.
