LTIMindtree bags Rs 792-crore PAN 2.0 project

PAN 2.0 Project is envisaged to simplify the PAN/TAN processes

The income-tax Department has awarded the implementation of its ambitious PAN 2.0 project to LTIMindtree which aims to modernise and improve the Permanent Account Number (PAN) and Tax Deduction and Collection Account Number (TAN) systems, using artificial intelligence and data analytics, sources told Moneycontrol on August 4.

The cabinet committee on economic affairs (CCEA) has approved the project expected to go live within the next 18 months, sources in the Central Board of Direct Taxes (CBDT) said. The bid value is approximately Rs 792 crore, sources said.

"The PAN 2.0 Project is envisaged to simplify the PAN/TAN processes for improved quality of service to the public, faster service delivery and improved grievance redressal mechanisms by leveraging the latest technologies," sources said.

Once operational, PAN 2.0 will serve as a unified digital platform to handle all PAN and TAN-related services. These include allotment of PAN and TAN, updates or corrections in existing records, Aadhaar-PAN linking, re-issuance of lost cards, and online PAN validation and consolidate them into a single interface to enhance taxpayer convenience and administrative efficiency.

Tech boost 

The new system aims to address long-standing challenges in PAN and TAN management by incorporating cutting-edge technologies such as artificial intelligence and data analytics. This is expected to streamline service delivery, reduce manual interventions, and allow for faster processing and redressal of issues.

The PAN 2.0 portal will also offer real-time tracking of application status and integrate seamlessly with the Aadhaar database and other government systems for better authentication and fraud detection.

PAN is a unique 10-digit alphanumeric identifier mandatory for financial transactions above prescribed thresholds, while TAN is required for entities deducting tax at source. Any inefficiencies or delays in PAN/TAN-related services have direct implications for taxpayers and businesses.

"PAN 2.0 Project will handle comprehensively 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,” CBDT sources said.