PAN 2.0 project: The Cabinet Committee on Economic Affairs (CCEA) gave its approval on Monday for the PAN 2.0 initiative, aiming to establish it as the “common business identifier” whilst ensuring stringent security measures for those accessing this vital income tax identification data.
The government has announced that the PAN 2.0 Project, aimed at modernising taxpayer registration services through technological advancement, will require an investment of Rs 1,435 crore.
This initiative seeks to enhance the existing PAN framework by improving taxpayer data management and implementing robust security measures to safeguard against unauthorised use.
The implementation will require all organisations utilising PAN to adopt the data vault system mandatorily, whilst establishing an advanced technology-based system for addressing grievances.
What is PAN 2.0?
Discussing the PAN card enhancement project, Union Minister Vaishnaw explained, “The PAN card is an integral part of our lives, especially for the middle class and small businesses. It has undergone significant upgrades, and PAN 2.0 has been approved today. The existing system will be enhanced, and a robust digital backbone will be introduced.”
The upgraded PAN card system is set to offer notable advancements:
- Upgrade the existing system
- Common Business Identifier for all business related activities in specified sectors
- Unified Portal
- Robust cyber security measures
- PAN Data Vault system mandatory for all entities using PAN data
Will you have to reapply for PAN Card? What is the cost?
Citizens need not worry about reapplying for a new PAN card following the government’s latest initiative. The authorities have confirmed that existing cardholders do not need to take any action.
The government’s investment in this PAN Card upgrade will not burden the current 78 crore PAN cardholders, who will receive enhanced cards featuring QR codes at no additional charge.
Union Minister Ashwini Vaishnaw said during the Cabinet briefing that taxpayers will not have to pay any additional charges for the PAN Card with enhanced features, including the new QR code addition.
The minister for railways, information & broadcasting, electronics & IT stated, “There will be a unified portal, it will be completely paperless and online. The emphasis will be on the grievance redressal system.”
The minister further stated, “We will explore whether it can serve as a common business identifier. A unified portal will be established, which will be entirely paperless and online, with a strong focus on grievance redressal.”
The PAN 2.0 Project represents a significant advancement in e-Governance, aimed at streamlining taxpayer registration services. This technological enhancement focuses on improving PAN/TAN services to provide users with a superior digital experience.
The initiative consolidates both core and non-core PAN/TAN operations, alongside PAN validation services, serving as an advancement to the existing PAN/TAN 1.0 system.
