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New Delhi: The Income Tax Department has selected IT firm LTIMindtree Ltd to implement the PAN 2.0 project, which is expected to go live within 18 months, an official said on Monday.
The PAN 2.0 project will comprehensively handle issues/matters related to PAN and TAN, including allotment, updates/corrections, Aadhaar-PAN linking, re-issuance requests, online PAN validation etc., as a one-stop platform. It envisages simplifying PAN/TAN processes to enhance quality of service to the public and improving grievance redressal mechanisms.
The PAN 2.0 project has been awarded to the successful bidder, M/s LTIMindtree Limited. The project is expected to go live in 18 months, an official said.
LTIMindtree will act as the Managed Service Provider (MSP) for the design, development, implementation, operations, and maintenance of the project.
The Cabinet Committee on Economic Affairs (CCEA) had approved the Income Tax Department's Rs 1,435-crore PAN 2.0 project on November 25, 2024. Existing Permanent Account Number (PAN) card holders are not required to apply for a new one under the upgraded PAN 2.0 system
Currently, PAN-related services are spread across three different platforms -- e-Filing Portal, UTIITSL Portal, and Protean e-Gov Portal. With the implementation of PAN 2.0, all these services will be integrated into a single, unified portal.
With an existing database of over 81.24 crore PANs and over 73 lakh TANs, the PAN 2.0 project addresses the requirements of taxpayers, focusing on the consolidation of multiple platforms/portals and efficient services to PAN/ TAN holders.
PAN is a 10-digit alpha-numeric number issued by the Income Tax department to Indian taxpayers. Similarly, Tax Deduction and Collection Account Number (TAN) is a 10-digit alpha-numeric number that is obtained by all persons responsible for deducting tax at source or who are required to collect tax at source.
PAN 2.0 will comprehensively use technology for paperless processes. Allotment/updation/correction of PAN will be done free of cost and e-PAN will be sent to the registered mail ID.
Shares of LTIMindtree were trading at Rs 5,090.50 apiece, up 1.46 per cent over previous close on the BSE.