New Delhi: The Indian government’s Cabinet Committee on Economic Affairs (CCEA) has approved the Income Tax Department’s PAN 2.0 Project, aimed at modernizing and streamlining the process of issuing and managing Permanent Account Numbers (PAN) and Tax Deduction and Collection Account Numbers (TAN). The move is designed to enhance the efficiency and user experience for taxpayers, consolidating multiple platforms into a unified system.
According to the Ministry of Finance, with the existing PAN database of 78 crore PANs and 73.28 lakh TANs, the PAN 2.0 Project will address the growing demands of taxpayers by consolidating services from the current three separate portals—the e-Filing Portal, UTIITSL Portal, and Protean e-Gov Portal—into one integrated platform.
The new platform will handle all matters related to PAN and TAN, including applications, updates, corrections, Aadhaar-PAN linking, re-issuance requests, and online PAN validation. By centralizing these services, the government aims to simplify processes, reduce delays, and improve grievance redressal mechanisms, making the entire process more user-friendly.
Importantly, existing PAN cardholders will not need to apply for a new PAN under the upgraded system. The current PAN cards will remain fully valid unless the holder requests an update or correction.
Industry experts believe that the implementation of PAN 2.0 will also benefit fintech companies by reducing operational costs. The Ministry of Finance has emphasized that the initiative, which incorporates advanced e-governance features, will bring the taxpayer registration system in line with global standards, ensuring seamless digital processes and robust data security.
Additionally, the PAN 2.0 Project will provide free e-PAN services and simplified updates, further enhancing convenience for taxpayers. The integration of all services into a single platform is expected to reduce paperwork, making the entire process paperless and more efficient.
In summary, the PAN 2.0 Project marks a significant step towards modernizing India’s taxation infrastructure, with an emphasis on ease of use, digital integration, and enhanced data security.
