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The Union Cabinet on Monday approved the PAN 2.0, where it will roll out a free-of-cost upgrade to the PAN Card with a QR Code, announced Union Information and Broadcasting Minister Ashwini Vaishnaw.
According to an official statement, the Cabinet Committee on Economic Affairs (CCEA), chaired by the Prime Minister Narendra Modi, has given its approval for the PAN 2.0 Project of the Income Tax Department.
The ambitious project is being built at an estimated cost of Rs 1,435 crore. “The existing system will be upgraded and the digital backbone will be brought in a new way… We will try to make it a common business identifier. There will be a unified portal, it will be completely paperless and online. The emphasis will be on the grievance redressal system," said Union Minister Vaishnaw during a Cabinet briefing.
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