News Brief
PAN Card (Illustrative Image)
India’s Income Tax Department has taken a major step towards modernising taxpayer services by awarding the implementation of its ambitious PAN 2.0 project to LTIMindtree.
According to a Money Control report, the initiative, valued at around Rs 792 crore has been approved by the Cabinet Committee on Economic Affairs (CCEA) and is expected to go live within 18 months, according to officials from the Central Board of Direct Taxes (CBDT).
At its core, PAN 2.0 seeks to overhaul the systems governing Permanent Account Number (PAN) and Tax Deduction and Collection Account Number (TAN). These identifiers are central to India’s tax framework.
PAN is a 10-digit alphanumeric code essential for high-value financial transactions, while TAN is mandatory for entities deducting tax at source. Delays or inefficiencies in these systems often disrupt financial processes for both individuals and businesses.
The new project promises to resolve these long-standing challenges by leveraging artificial intelligence, real-time data analytics, and advanced digital interfaces.
PAN 2.0 will function as a unified digital platform to handle all services, from the allotment of PAN and TAN to Aadhaar-PAN linking, correction of records, reissuance of lost cards, and online PAN validation.
Crucially, it will provide real-time application tracking, ensuring transparency and accountability. Integration with Aadhaar and other government databases will also strengthen identity authentication and fraud prevention.
By reducing manual interventions and speeding up service delivery, PAN 2.0 is expected to make tax compliance smoother and more reliable for millions of Indians, marking a significant shift towards smart governance and digital-first taxpayer services.