Centre okays PAN 2.0 project worth Rs 1,435 crore to transform taxpayer registration

The Cabinet Committee connected Economic Affairs (CCEA), chaired by Prime Minister Narendra Modi, connected Monday approved the PAN 2.0 task of the Income Tax Department with an outlay of Rs 1,435 crore.

The PAN 2.0 task aims to alteration a technology-driven translation of payer registration services and has important benefits. It includes easiness of entree and speedy work transportation with improved quality; a azygous root of information and information consistency; eco-friendly processes and outgo optimisation; and information and optimisation of infrastructure for greater agility.

"It is an e-governance task for re-engineering the concern processes of payer registration services done technology-driven translation of PAN/TAN services for enhanced integer acquisition of the taxpayers," according to a furniture communique.

This volition beryllium an upgrade of the existent PAN/TAN 1.0 ecosystem, consolidating the halfway and non-core PAN/TAN activities arsenic good arsenic the PAN validation service.

The CCEA further stated that the PAN 2.0 task "resonates with the imaginativeness of the authorities enshrined successful Digital India by enabling the usage of PAN arsenic a communal identifier for each integer systems of specified authorities agencies".

Meanwhile, the I-T Department expects to surpass the nonstop taxation postulation people of Rs 22.07 lakh crore fixed successful the Union Budget for the existent fiscal year.

India's nett nonstop taxation collections, comprising firm taxation and idiosyncratic income tax, changeable up by a robust 15.4 per cent to Rs 12.1 lakh crore, from April 1 to November 10 during the existent fiscal year, according to the latest figures released by the CBDT.

The government's people to cod Rs 22.07 lakh crore during the existent fiscal twelvemonth comprises Rs 10.20 lakh crore from firm taxation and Rs 11.87 lakh from idiosyncratic income tax, non-corporate taxation and different taxes