Finance Ministry awards PAN 2.0 project to LTIMindtree

The Finance Ministry has announced the selection of LTIMindtree Ltd as the successful bidder for the PAN 2.0 project, said an official from the ministry, adding that the project is expected to be operational within 18 months.Another official said the project has been awarded at the contract value of around Rs 792 crore. The PAN 2.0 project seeks to simplify the processes of obtaining the PAN and Tax Deduction and Collection Account Number (TAN) by leveraging the latest technologies. This will enhance the quality of service to the public, expedite service delivery, and improve grievance redressal mechanisms.

The TAN is obtained by individuals responsible for deducting or collecting tax at source.

The Cabinet Committee on Economic Affairs, chaired by Prime Minister Narendra Modi, approved the PAN 2.0 project on November 25, 2024. Information and Broadcasting Minister Ashwini Vaishnaw announced the plan during a Cabinet briefing, stating that the total expenditure for the project will be INR 14.35 billion. PAN, a unique taxpayer identification number, was introduced in 1972.

Under this project, LTIMindtree will assist the government in revamping the technological infrastructure of the PAN system. This will involve upgrading the system and establishing a unified portal for all information related to a registered number. The decision to implement this system was prompted by repeated requests from the industry to consolidate business registration numbers into a single entity. While the primary focus is on the business sector, the new system is also expected to benefit the general public.