Ministry of Finance has said that PAN 2.0 Project, which has been approved by the Union Cabinet, is a transformative initiative to modernise taxpayer registration through advanced e-governance.
The Ministry added that this project aims to streamline and modernise the process of issuing and managing Permanent Account Number-PAN and Tax Deduction and Collection Account Number-TAN, making it more user-friendly and efficient. PAN 2.0 also aims to revolutionize the existing system by integrating all PAN and TAN services into a unified portal, ensuring a seamless and paperless process. It added that free e-PAN services and simplified updates enhance convenience for taxpayers. The Ministry added that old PAN cardholders need not worry as existing PAN cardholders are not required to apply for a new PAN under the upgraded system. The current valid PAN cards will remain fully operational under PAN 2.0 unless holders request an update or correction. It said, no new PAN card will be issued unless a specific request for updates or corrections is made. The PAN 2.0 Project adopts global standards to enhance taxpayer registration with seamless digital processes and strong data security.
