Cabinet approves ₹1,435-crore PAN 2.0 Project of the Income Tax Department
On 25 November 2024 in New Delhi, the Cabinet Committee on Economic Affairs chaired by PM Narendra Modi approved the Income Tax Department's PAN 2.0 Project at a cost of ₹1,435 crore.
Summary
On 25 November 2024, the Cabinet Committee on Economic Affairs (CCEA), chaired by Prime Minister Narendra Modi, approved the PAN 2.0 Project of the Income Tax Department with financial implications of ₹1,435 crore. PAN 2.0 is an e-governance project to re-engineer taxpayer registration services through a technology-driven transformation of PAN/TAN services. It upgrades the current PAN/TAN 1.0 ecosystem, consolidating core and non-core PAN/TAN activities and the PAN validation service. Listed benefits include ease of access and speedy service delivery, a single source of truth and data consistency, eco-friendly processes and cost optimisation, and security of infrastructure. In line with Digital India, it enables PAN to be used as a common identifier for all digital systems of specified government agencies.
Key facts
- Approved by
- CCEA, 25 Nov 2024
- Cost
- ₹1,435 crore
- What
- Upgrade of PAN/TAN 1.0 â core, non-core and PAN validation in one system
- Benefits
- Speedy delivery; single source of truth; eco-friendly; secure
- Digital India link
- PAN as common identifier for specified government agencies
Practice MCQs 3 questions
What is the financial outlay of the PAN 2.0 Project approved by the Cabinet Committee on Economic Affairs on 25 November 2024?
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Correct answer: A â ₹1,435 crore
PIB (Cabinet): the financial implications of the PAN 2.0 Project are ₹1,435 crore.
Which body approved the PAN 2.0 Project of the Income Tax Department on 25 November 2024?
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Correct answer: C â Cabinet Committee on Economic Affairs
PIB (Cabinet): the CCEA, chaired by PM Narendra Modi, approved the PAN 2.0 Project of the Income Tax Department.
Consider the following statements about the PAN 2.0 Project approved in November 2024: 1. It was approved with an outlay of ₹6,000 crore for 2025â2027. 2. It enables the use of PAN as a common identifier for all digital systems of specified government agencies. Which of the statements given above is/are correct?
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Correct answer: B â 2 only
PIB (Cabinet): PAN 2.0 costs ₹1,435 crore (the ₹6,000-crore, 2025â27 figure belongs to One Nation One Subscription). It does enable PAN as a common identifier for specified government agencies. Only 2 is correct.