<p>New Delhi: The government has approved a Rs 1,435-crore project to revamp the existing system of issuing permanent account number under which <a href="https://www.deccanherald.com/tags/pan-card">PAN cards </a>with QR Code feature will be given free of cost to taxpayers.</p><p>The PAN 2.0 project aims to create a "common business identifier" for all digital systems of government agencies.</p>.Govt announces Rs 1,435 cr PAN 2.0 Project.<p>The project was approved by the Cabinet Committee on Economic Affairs (CCEA), chaired by Prime Minister Narendra Modi, on Monday.</p><p>PAN is a unique 10-digit alphanumeric number issued by the <a href="https://www.deccanherald.com/tags/income-tax-department">Income Tax Department </a>to Indian taxpayers.</p><p>Briefing media persons about the decision, Information and Broadcasting Minister Ashwini Vaishnaw said businesses have been demanding a common business identifier as against the current 3-4 different identifiers.</p><p>The present PAN with individuals and businesses will remain valid and there will be no need to change the number.</p><p>PAN 2.0 Project enables technology-driven transformation of taxpayer registration services and is aimed at ease of access and speedy service delivery with improved quality.</p><p>Single source of truth and data consistency; eco-friendly processes and cost optimisation; and security and optimisation of infrastructure for greater agility are the other benefits of the project.</p><p>"The PAN 2.0 Project resonates with the vision of the government enshrined in Digital India by enabling the use of PAN as common identifier for all digital systems of specified government agencies," an official release said.</p><p>For personal data protection, PAN data vault system will be mandatory for all entities using PAN data. Also, under the PAN 2.0, the grievance redressal system will be strengthened.</p><p>The second generation PAN is an e-governance project for re-engineering the business processes of taxpayer registration services through technology-driven transformation of PAN/TAN services for enhanced digital experience of the taxpayers.</p><p>"This will be an upgrade of the current PAN/TAN 1.0 eco-system consolidating the core and non-core PAN/TAN activities as well as PAN validation service," the release said.</p><p>Commenting on the government's decision, Pritin Kumar, Partner, Deloitte India, said the OECD report on 'Tax Administration 3.0: The Digital Transformation of Tax Administration' highlights six key building blocks, the first of which is a digital identity for the secure and unique identification of taxpayers and citizens in an integrated manner.</p><p>"The PAN 2.0 project aligns well with the government's vision for digital tax administration and is a welcome move," Kumar said.</p><p>Currently, about 78 crore PANs have been issued, of which 98 per cent are to individuals.</p>
<p>New Delhi: The government has approved a Rs 1,435-crore project to revamp the existing system of issuing permanent account number under which <a href="https://www.deccanherald.com/tags/pan-card">PAN cards </a>with QR Code feature will be given free of cost to taxpayers.</p><p>The PAN 2.0 project aims to create a "common business identifier" for all digital systems of government agencies.</p>.Govt announces Rs 1,435 cr PAN 2.0 Project.<p>The project was approved by the Cabinet Committee on Economic Affairs (CCEA), chaired by Prime Minister Narendra Modi, on Monday.</p><p>PAN is a unique 10-digit alphanumeric number issued by the <a href="https://www.deccanherald.com/tags/income-tax-department">Income Tax Department </a>to Indian taxpayers.</p><p>Briefing media persons about the decision, Information and Broadcasting Minister Ashwini Vaishnaw said businesses have been demanding a common business identifier as against the current 3-4 different identifiers.</p><p>The present PAN with individuals and businesses will remain valid and there will be no need to change the number.</p><p>PAN 2.0 Project enables technology-driven transformation of taxpayer registration services and is aimed at ease of access and speedy service delivery with improved quality.</p><p>Single source of truth and data consistency; eco-friendly processes and cost optimisation; and security and optimisation of infrastructure for greater agility are the other benefits of the project.</p><p>"The PAN 2.0 Project resonates with the vision of the government enshrined in Digital India by enabling the use of PAN as common identifier for all digital systems of specified government agencies," an official release said.</p><p>For personal data protection, PAN data vault system will be mandatory for all entities using PAN data. Also, under the PAN 2.0, the grievance redressal system will be strengthened.</p><p>The second generation PAN is an e-governance project for re-engineering the business processes of taxpayer registration services through technology-driven transformation of PAN/TAN services for enhanced digital experience of the taxpayers.</p><p>"This will be an upgrade of the current PAN/TAN 1.0 eco-system consolidating the core and non-core PAN/TAN activities as well as PAN validation service," the release said.</p><p>Commenting on the government's decision, Pritin Kumar, Partner, Deloitte India, said the OECD report on 'Tax Administration 3.0: The Digital Transformation of Tax Administration' highlights six key building blocks, the first of which is a digital identity for the secure and unique identification of taxpayers and citizens in an integrated manner.</p><p>"The PAN 2.0 project aligns well with the government's vision for digital tax administration and is a welcome move," Kumar said.</p><p>Currently, about 78 crore PANs have been issued, of which 98 per cent are to individuals.</p>