PAN 2.0: Streamlining India's Taxpayer Identification System

The Income Tax Department introduces PAN 2.0 to modernize taxpayer services by creating a unified portal, offering free electronic updates, and minimizing duplicate PAN issues. Existing cardholders won't need new PAN cards, but upgrades will enhance integration and service efficiency across business processes.

The Indian Income Tax Department has announced the rollout of PAN 2.0, a significant upgrade aimed at modernizing taxpayer registration services. With an approved budget of Rs 1,435 crore, this initiative will streamline and unify various business-related processes, enhancing the overall efficiency and user experience for PAN holders.

The Permanent Account Number (PAN), a unique identifier for Indian taxpayers, will now serve as a common identifier for all business activities under the revamped system. Notably, current PAN card holders are not obliged to apply for new cards unless they wish to update or correct personal details.

PAN 2.0 will merge all services related to PAN and TAN onto a single portal, facilitating seamless access and management. The project will enable electronic processes and offer free updates, improving service integration and reducing instances of duplicate PAN issues. The rollout is planned for next year.

(With inputs from agencies.)