New Delhi: The Income Tax Department’s 10-digit alphanumeric Permanent Account Number (PAN) is set for a major update. The new features include the addition of QR codes to all existing and new cards. To enhance security, a data vault system and improved cybersecurity measures are also being introduced.
The government Monday announced the Rs 1,435 crore PAN 2.0 Project to make the permanent account number a ‘common business identifier’ for all digital systems of government agencies.
The Cabinet Committee on Economic Affairs (CCEA), chaired by Prime Minister Narendra Modi, has given its approval for the PAN 2.0 Project of the Income Tax Department with a financial outlay of Rs 1,435 crore, Information and Broadcasting Minister Ashwini Vaishnaw said.
What is the PAN 2.0 Project?
The PAN 2.0 Project enables technology-driven transformation of taxpayer registration services and is aimed at ease of access and speedy service delivery with improved quality.
Single source of truth and data consistency; eco-friendly processes and cost optimization; and security and optimisation of infrastructure for greater agility, are the other benefits of the project.
“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,” an official release said.
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 release said.
Currently, about 78 crore PANs have been issued, of which 98 per cent are to individuals.
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How to apply for it?
According to a senior Finance Ministry official the existing PAN card holders can regenerate the old PAN card to the QR code-enabled ones. PAN holders having an old PAN Card without QR code have an option to apply for a new card with QR code. In PAN 2.0, the application submission is going to be online.
However, details about the procedure and the timeline for implementation are yet to be announced by the Income Tax Department.
PNN & Agencies