New Delhi [India], November 25 : The Cabinet Committee on Economic Affairs (CCEA), chaired by Prime Minister Narendra Modi, approved the PAN 2.0 Project of the Income Tax Department on Monday.
According to an official release, the project will have a financial outlay of Rs1,435 crore.
The PAN 2.0 Project aligns with the Government's Digital India vision by enabling the use of PAN as a common identifier for all digital systems of specified government agencies, the release stated.
The project facilitates a technology-driven transformation of taxpayer registration services and offers significant benefits, including ease of access, speedy service delivery with improved quality, a single source of truth ensuring data consistency, eco-friendly processes with cost optimisation, and enhanced security and infrastructure agility.
The PAN 2.0 Project is an e-governance initiative aimed at re-engineering the business processes of taxpayer registration services through a technology-driven transformation of PAN/TAN services. It seeks to enhance the digital experience for taxpayers. This upgrade of the current PAN/TAN 1.0 ecosystem will consolidate core and non-core PAN/TAN activities as well as the PAN validation service, the release added.