The Cabinet Committee on Economic Affairs (CCEA) has agreed to launch the Pan 2.0, center’s most ambitious project. It aims to enhance and modernize the process of issuing and managing Permanent Account Number (PAN) and Tax Deduction & Collection Account Number (TAN). The new project, managed by the Income Tax Department, tailored to simplify tax filing processes, improve security and accessibility, besides streamlining the process of obtaining, using and verifying PAN cards. Aligned with the Prime Minister’s Digital India initiative, it is designed to ease tax compliance and other financial processes.
Some of the Key Features of PAN 2.0 Include:
- It will enable you to apply for and receive an e-PAN instantly.
- It consists of Aadhar-based application process which requires minimal paperwork and reduces verification time.
- E-PANs are signed digitally and are equally valid as physical PAN cards.
- Tax payers will be able to download their e-PAN directly from the income tax portal.
- It incorporates QR codes which store encrypted data encompassing PAN holder’s name, date of birth, and photograph.
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. The existing system will be enhanced, and a robust digital backbone will be introduced.
Union Minister, Ashini Vaishnaw said
