PAN 2.0 Project: All you need to know
The Hindu
Government launches PAN 2.0 Project to enhance taxpayer experience with upgraded features and digital processes.
The government on Monday (November 25, 2024) announced the ₹1,435 crore PAN 2.0 Project to make the permanent account number a ‘common business identifier’ for all digital systems of government agencies.
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 ₹1,435 crore, Information and Broadcasting Minister Ashwini Vaishnaw said.
Currently, about 78 crore PANs have been issued, of which 98% are to individuals.
PAN 2.0 Project is an e-Governance project for re-engineering the business processes of taxpayer registration services through technology-driven transformation of PAN/TAN services for enhanced digital experience of the taxpayers.
“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,” an official release said.
No, the existing PAN cards remain valid.
Taxpayers do not need to apply for a new PAN number, according to Union Minister Ashwini Vaishnaw.
RBI Governor Shaktikanta Das admitted to hospital for monitoring, no official information available yet.
Fitch puts Adani Group bonds on watch for downgrade after U.S. bribery charges, impacting financial stability and investments.
Google is fighting to beat back another attack by the U.S. Department of Justice alleging monopolistic conduct in its ad tech.
Meta will face trial in April over the U.S. Federal Trade Commission’s allegations that the social media platform bought Instagram and WhatsApp to crush emerging competition.
HUL shareholders to receive shares in new ice cream business entity, subject to approvals, maximizing value for all.
Vedanta launches $500 million bond issue post-Adani crisis, with Citigroup, JPMorgan, Deutsche Bank declining to comment.
USFDA reports Dr Reddy's and Lupin Pharmaceuticals recalling products in the US due to manufacturing issues.
EPF inoperative accounts rise to ₹8,505.23 crore in 2023-24, EPFO to return funds to beneficiaries, awareness campaigns planned.
S&P Global Ratings revises India's economic growth forecast due to high interest rates and lower fiscal impulse.
Indraprastha Gas Ltd raises CNG prices in select cities, while MGL hikes rates in Mumbai post-elections.
Adani group stocks surge on BSE, NSE; clarifies on Kenya deals amid bribery charges, airport project cancellation.