Tue Nov 26 08:49:49 UTC 2024: ## Government Launches ₹1,435 Crore PAN 2.0 Project to Upgrade PAN System
**New Delhi, November 26, 2024** – The Indian government announced a ₹1,435 crore initiative, PAN 2.0, aimed at modernizing the Permanent Account Number (PAN) system. The project, approved by the Cabinet Committee on Economic Affairs (CCEA), will transform PAN into a universal business identifier across all government digital platforms.
Information and Broadcasting Minister Ashwini Vaishnaw stated that the project will streamline taxpayer registration services through technological upgrades to PAN/TAN services. This will enhance the digital experience for taxpayers by consolidating core and non-core PAN/TAN activities, along with PAN validation services.
Currently, over 78 crore PANs have been issued, with 98% belonging to individuals. Minister Vaishnaw clarified that existing PAN cards remain valid and no new applications are required. However, the project will introduce new PAN cards incorporating enhanced security features, such as QR codes, at no extra cost. Details regarding the application process for the upgraded PAN cards are yet to be released by the Income Tax Department. The PAN 2.0 project represents a significant step towards digitalization of government services in India.
First Piper 