The Cabinet’s Economic Affairs Committee, chaired by Prime Minister Narendra Modi, has approved the launch of the PAN 2.0 project. With this, the PAN card issued for the identification of taxpayers will now be issued with a QR code. The purpose of this decision of the government is to use PAN as the main identifier in all digital systems of government agencies. It is worth noting that the government will spend a total of Rs 1435 crore on this project. In this matter, Information and Broadcasting Minister Ashwini Vaishnav said that “In the PAN 2.0 project, new PAN cards with QR code will be issued to taxpayers free of cost.”
All information will be easily available at one place
Let us tell you that the PAN 2.0 project will help in bringing a big change in the registration services of taxpayers through technology. This will give them many benefits. With this, they will be able to access the services easily. With this, the delivery of services can be accelerated and the quality will improve. Not only this, all the information will be easily available at one place. Apart from this, the data will be safe and the eco-friendly process will help in reducing the cost.
78 crore PANs have been issued so far
PAN number is a 10-digit identity card. Which contains alphabets and numbers. It is called alphanumeric. It is issued by the Income Tax Department. Through PAN number, Income Tax can monitor the online or financial transactions of any person. PAN is necessary for all types of economic transactions in India. An estimated 78 crore PANs have been issued in the country. Of which 98 percent have been issued at the individual level.
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This is an e-governance project
This is an e-governance project. “This will be an upgrade over the existing PAN/TAN 1.0 framework, which will also integrate PAN verification service with core and non-core PAN/TAN activities,” the government said in a statement.
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