The Union Cabinet has approved the PAN 2.0 Project, which introduces advanced features to Permanent Account Numbers (PAN). A new QR code will be added to PAN cards, and PAN will serve as a common identifier for businesses across government systems.
Key Features of PAN 2.0
- Comprehensive Upgrade:
The PAN system will undergo a complete digital overhaul at a cost of ₹1,435 crore. This includes a revamped digital backbone to streamline services for taxpayers. - Enhanced Functionality:
The new PAN will act as a single source of truth for data consistency. It aims to simplify and secure business operations across government platforms. - Free Upgrades for Existing Users:
Current PAN holders can update their cards to the new QR-enabled format at no cost. - Unified Identifier for Businesses:
The new system addresses long-standing demands to eliminate multiple identification numbers for businesses. PAN will now function as a common business identifier across all specified government agencies. - Improved Services:
The project focuses on making PAN services paperless and accessible online. A grievance redressal system will also be enhanced to address user concerns efficiently.
Facts and Figures
- Existing PAN Cards: Around 78 crore PAN cards have been issued so far, with 98% belonging to individuals.
- Modernized Portal: A unified portal will replace the outdated 15-20-year-old software, ensuring greater agility and convenience.
Benefits for Taxpayers
The PAN 2.0 initiative will revolutionize taxpayer services by ensuring quicker access, streamlined processes, and a higher level of security. It marks a major step towards e-governance in India.
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