The Cabinet Committee on Economic Affairs (CCEA), chaired by Prime Minister Narendra Modi, has approved the PAN 2.0 Project, an upgrade of the current PAN/TAN system, with a financial outlay of ₹1,435 crore. The project aims to streamline and digitize the PAN services, enhancing taxpayer registration and service delivery. PAN 2.0 is a part of the government’s Digital India vision, which focuses on improving the digital infrastructure and making the PAN a common identifier across various government systems.
Key Features of PAN 2.0
Seamless Transition: There is no need for existing PAN holders to reapply, as the current PAN cards remain valid.
Digitization: Introduction of QR codes on PAN cards and significant upgrades to infrastructure for better security and user experience.
Improved Efficiency: The system promises faster service delivery, enhanced data consistency, and eco-friendly operations by minimizing paper use.
Centralized Ecosystem: Consolidation of core and non-core PAN/TAN activities for smoother operation and improved validation services.
Impact on Taxpayers
No Reapplication Needed: Current PAN cards will remain valid, and there is no need for taxpayers to reapply for a new card.
Enhanced User Experience: The digital transformation ensures quicker processing, increased security, and better integration across various government services, making the PAN a unified digital business identifier.
Free of Cost: The upgrades, including the addition of a QR code, will be provided free of charge to taxpayers.
Summery of the news
| Why in News | Key Points |
|---|---|
| PAN 2.0 Project Approved | – Cabinet Committee on Economic Affairs (CCEA) approved the ₹1,435 crore PAN 2.0 Project. – Objective: Digital transformation of PAN/TAN services. – No reapplication required for existing PAN holders. – Introduction of QR codes on PAN cards. – Focus on eco-friendly, paperless systems. – PAN 2.0 aligns with Digital India vision. |
| Project Features | – Improved security, efficiency, and data consistency. – Free of cost for all taxpayers. – Aims for streamlined taxpayer registration and faster services. |
| Financial Implications | – Financial outlay: ₹1,435 crore. |
| Key Benefits | – Faster service delivery and improved quality. – Single source of truth for data. – Cost optimization and eco-friendly processes. – Security enhancement for better agility. |
| Digital India Vision | – PAN 2.0 as a common business identifier across government systems. |
| Relevance for Taxpayers | – Over 78 crore PANs issued. – Upgrade will benefit 98% individual PAN holders. |
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