look news india
Cabinet decision: PAN cards issued for identification of taxpayers will now be issued with QR code to enhance the digital experience of taxpayers. The Cabinet Committee on Economic Affairs (CCEA) chaired by Prime Minister Narendra Modi has approved the launch of the PAN 2.0 project. The purpose of this decision of the government is to use PAN as the main identifier in all digital systems of government agencies. The government will spend a total of Rs 1435 crore on this project.
PAN with QR code will be issued free of cost
The PAN 2.0 project will help in bringing about a paradigm shift in the registration services of taxpayers through technology. Taxpayers will get many types of benefits. In which they will be able to access services easily, delivery of services can be accelerated, quality will improve, all information will be available at one place, data will remain secure, environment friendly process will help in reducing costs. PAN will be used as a common identifier for digital systems of government agencies, which also aligns with the government’s vision of Digital India. Information and Broadcasting Minister Ashwini Vaishnav said that under the PAN 2.0 project, new PAN cards with QR codes will be issued free of cost to the taxpayers.
78 crore PANs were issued
PAN 2.0 Project is an e-Governance project to redesign the business process of taxpayers’ registration services through technology-driven transformation of PAN/TAN services for better digital experience of taxpayers. The government said in its statement that this will be an enhanced version of the existing PAN/TAN 1.0 framework that will also integrate the PAN verification service with core and non-core PAN/TAN activities. So far, about 78 crore PANs have been issued in the country, out of which 98 percent PANs have been issued at the individual level.
What is PAN?
PAN number is a 10-digit alphanumeric identity card issued by the Income Tax Department. This card is issued to any person who applies for a PAN card. Income Tax keeps track of online or financial transactions of any person through PAN number. Also, PAN is the most important identity card for carrying out all types of financial transactions in the country, just like Voter ID is for voting.