Government announces Rs 1,435 Cr PAN 2.0 Project

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Government announces Rs 1,435 Cr PAN 2.0 Project - YourStory

Quick Summary:

The Cabinet Committee on Economic Affairs (CCEA), chaired by Prime Minister Narendra Modi, has given its approval for the PAN 2.0 Project of the Income Tax Department with a financial outlay of Rs 1,435 crore, Information and Broadcasting Minister Ashwini Vaishnaw said.

Currently, about 78 crore PANs have been issued, of which 98 per cent are to individuals.

"This will be an upgrade of the current PAN/TAN 1.0 eco-system consolidating the core and non-core PAN/TAN activities as well as PAN validation service," the release said.