Cabinet approves the PAN 2.0 Project

The PAN (Permanent Account Number), a vital identification number for financial transactions in India, is set to be redefined with this initiative to incorporate advanced technological capabilities, address inefficiencies, and align with global standards.  



The Cabinet Committee on Economic Affairs (CCEA), chaired by the Prime Minister Shri Narendra Modi, has given its approval for the PAN 2.0 Project of the Income Tax Department. The financial implications for the PAN 2.0 Project will be Rs.1435 crore.

 

The Cabinet's approval of the PAN 2.0 Project marks a significant milestone in India's journey toward modernizing its financial infrastructure and improving governance. The PAN 2.0 Project enables technology driven transformation of Taxpayer registration services and has significant benefits such as ease of access and speedy service delivery with improved quality; single source of truth and data consistency, Eco-friendly processes and cost optimization; and security and optimization of infrastructure for greater agility.

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 services for enhanced digital experience of the taxpayers. 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 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