The Cabinet Committee on Economic Affairs (CCEA), led by Prime Minister Narendra Modi, has approved the revolutionary PAN 2.0 project, aimed at advancing taxpayer services through technology-driven reforms. With a sanctioned budget of ₹1,435 crore, this initiative aligns with India’s Digital India mission, emphasizing efficiency, eco-friendliness, and security in the tax infrastructure.
Highlights of PAN 2.0
- Integrated PAN as a Universal Identifier
PAN will now function as a common identifier across multiple digital platforms, eliminating the need for multiple document submissions. - Faster Service Delivery
PAN 2.0 aims to reduce delays in issuing Permanent Account Numbers (PAN) and Tax Deduction and Collection Account Numbers (TAN), ensuring seamless service for citizens and businesses alike. - Enhanced Data Accuracy
By consolidating all PAN/TAN activities under one system, the project minimizes errors in taxpayer data. - Sustainability and Security
Focus on green initiatives through reduced paperwork and robust digital infrastructure to secure sensitive taxpayer information. - Digitized Ecosystem
PAN 2.0 will integrate with various government schemes and services, streamlining compliance processes for taxpayers and businesses.
Advantages for Taxpayers
- User-Friendly Processes: Online applications and verifications will be faster and more transparent.
- One Nation, One PAN: Simplifies tax documentation for individuals and companies operating in different regions.
- Economic Boost: A streamlined tax system encourages compliance, boosting revenue collection and economic growth.
PAN 2.0: Catalyst for Digital India
This initiative is expected to empower millions by simplifying compliance, promoting transparency, and building trust in the taxation framework. With its focus on citizen convenience, PAN 2.0 is set to redefine how India manages its tax ecosystem.
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