PAN 2.0: LTIMindtree’s mega digital overhaul set to transform India in Just 1.5 years
The upgradation of PAN to PAN 2.0 seeks to leverage latest technologies, enabling it to handle all matters related to PAN as well as TAN in a comprehensive manner.
In a latest development related to the Pan 2.0 project, tech consulting and digital solutions company LTIMindtree has bagged the contract from the Income Tax department, a PTI report claimed on Monday. According to the report, the project is slated to get completed in a duration of 1.5 years. Notably, the bid value with LTIMindtree has been settled at Rs 792 crore. Previously, the central government had announced to update the PAN to a new version, approving an outlay of Rs 1,435 crore for the same.
Initiative To Modernise PAN System
The upgradation in the PAN system is an initiative of the Income Tax Department to modernise the PAN system to ensure that PAN/TAN processes are simplified. The process also aims to offer improved services to the public, entailing faster service delivery and a swifter grievance redressal mechanism.
In his written reply to the Lok Sabha on July 29, Minister of State (Finance) Pankaj Chaudhary said, “The PAN cards issued since 2017, as well as the PAN cards that will be issued under the PAN 2.0 project, have a QR code. However, under the PAN 2.0 project, the QR code will have further enhancements (a dynamic QR code that will display the latest data present in the PAN database).
“The existing PAN cards will continue to be valid under PAN 2.0, and there is no requirement for existing PAN holders to obtain a new PAN card”, the minister added.
The upgradation of PAN to PAN 2.0 seeks to leverage latest technologies, enabling it to handle all matters related to PAN as well as TAN in a comprehensive manner.
Once upgraded to PAN 2.0, it will cater to several issues, including Aadhaar-PAN linking, online PAN validation, updates/corrections, allotment, among other services. Overall, the platform will act as a one-stop solution.
Equipped with a dynamic QR code, the PAN 2.0 will reflect the latest data being fed in the PAN database.