The Indian government has approved the PAN 2.0 project, aimed at modernising the taxpayer registration system under the Income Tax Department.
The decision, announced on November 25, 2024, will see the government invest ₹1,435 crore to enhance the existing PAN/TAN infrastructure and services.
This e-governance initiative will offer digital PAN and TAN services, providing a more efficient and secure way for taxpayers to interact with the system.The new project allows existing PAN holders, approximately 78 crore individuals, to upgrade their current PAN cards.
While the PAN number will stay the same, users will need to update their cards, which the government assures will be free of charge.
However, the specific application process and timeline for the upgrade have not yet been disclosed by the Income Tax Department.Also read: 'Chill Guy' dog meme sweeps social media: Here's what you need to knowPAN 2.0 aims to upgrade the current PAN/TAN system by improving the overall infrastructure, simplifying processes, and enhancing PAN validation services.