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Recently the Government of India has introduced PAN 2.0. In such a situation, many questions might be arising in your mind as to what is the purpose behind bringing PAN 2.0. After all, how will this make the work of both the common man and the government easier? One thing is clear that by introducing PAN 2.0, the government wants to make it multi-purpose.
For the last few days, continuous updates are coming out regarding PAN. Recently the Government of India has introduced PAN 2.0. In such a situation, many questions might be arising in your mind as to what is the purpose behind bringing PAN 2.0. After all, how will this make the work of both the common man and the government easier? One thing is clear that by introducing PAN 2.0, the government wants to make it multi-purpose.
In today’s era, a person has many registrations. This includes PAN, GSTIN, EPFO number etc. Everyone has a different number. It’s difficult to keep track of all these numbers. Therefore there is a need for a common identifier number. The government has taken this matter into cognizance. After this, it has been decided to make PAN 2.0 a common identifier number. The demand for a common identifier number has been going on for a long time. In such a situation, this is being considered a big step of the government.
How will taxpayers benefit?
PAN will now serve as a common identity, eliminating the need to remember multiple separate IDs. Taxpayers and businesses will benefit as PAN will be used for GST filing, corporate registration and income tax services. This will ease business operations as PAN 2.0 will not require other identification numbers like TAN.
Additionally, PAN will be linked to systems like Aadhaar and GSTN, thereby expediting processes like refunds, approvals and filings. All services from a single portal means no longer need to visit three different portals (e-filing portal, UTIITSL portal and Proteus e-Governance portal). This will boost system security. Better measures will be taken to protect personal data.
