Govt announces Rs 1,435 cr project to make PAN a common business identifier

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Govt announces Rs 1,435 cr project to make PAN a common business identifier - Business Standard

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.The PAN 2.0 Project enables technology-driven transformation of taxpayer registration services and is aimed at ease of access and speedy service delivery with improved quality.

The government on Monday announced the Rs 1,435 crore PAN 2.0 Project to make the permanent account number a 'common business identifier' for all digital systems of government agencies.

Single source of truth and data consistency; eco-friendly processes and cost optimization; and security and optimisation of infrastructure for greater agility, are the other benefits of the project."The PAN 2.