What TV doesn't, print can't; we deliver.
What TV doesn't, print can't; we deliver.
The existing PAN numbers will remain valid, and users will not need to update their current cards. The enhanced features, including QR codes for easy scanning, will be integrated seamlessly.
New Delhi: The Union Cabinet has approved PAN 2.0, a significant upgrade to the existing Permanent Account Number (PAN) system, announced by Union Minister Ashwini Vaishnaw on Monday, November 25. The new version introduces a QR code feature on PAN cards and proposes making PAN the common identifier for businesses.
This initiative aligns with the government’s push for digital transformation and e-governance, aiming to simplify processes for taxpayers and businesses.
PAN, a unique identification number for taxpayers in India, has been in use since 1972, with over 78 crore cards issued. PAN 2.0 seeks to modernize and streamline the system, improving both core and non-core activities related to PAN and TAN (Tax Deduction and Collection Account Number). The new platform will consolidate these services, offering greater convenience and efficiency for users.
The existing PAN numbers will remain valid, and users will not need to update their current cards. The enhanced features, including QR codes for easy scanning, will be integrated seamlessly.
The upgrade will centralize all PAN-related services on a single platform, ensuring accessibility and ease of use. Advanced technology will enhance the efficiency and security of these services, with stronger measures to protect user data against cyber threats.
PAN 2.0 will also act as a universal identification number for business transactions across government departments, streamlining processes and promoting transparency. Secure storage systems will safeguard the data of entities using PAN, further strengthening privacy and security.
The introduction of PAN 2.0 is a part of the government’s Digital India initiative, aimed at creating a more transparent, efficient, and digital tax ecosystem. By modernizing the system, the government hopes to facilitate smoother interactions between individuals, businesses, and the tax authorities.
The PAN 2.0 project is expected to cost about ₹1,435 crore. This financial investment is part of the government’s commitment to making the tax and identification systems more modern and accessible for everyone.
