The government on Monday an🎉nounced the Rs 1,435 crore PAN 2.0 Project to make the permanent account number a 'common business identifier' for all digital systems of governm🦹ent agencies.
The Cabinet Committee on Economic Affairs (C🎀CEA), 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.
The PAN 2.0 Project enables technology-driven transformati🌠on of taxpayer registration services and is aimed at ease of access and speedy serv♒ice delivery with improved quality.
Single source of truth and data consistency; eco-friendly processes and cost optim✤ization; 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 e𝓰nshrined 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 ser🌊vices for enhanced digital experience of the taxpayers.
"This will be an upgrade of the current PAN/TAN 1.0 eco-systeꦓm consolidating the core and non-core PAN/TAN activities as well as PAN validation service," the release said.
Currently, about 78 crore PANs♋ have be💝en issued, of which 98 per cent are to individuals.
