PAN 2.0: A Technological Overhaul Of The PAN System
The existing PAN system, introduced in 1972 under Section 139A of the Income Tax Act, has been in widespread use, with over 78 crore PAN cards issued, covering 98% of individuals. PAN 2.0, with an estimated cost of Rs 1,435 crore, will modernize the process, creating a more unified and secure identification system for taxpayers and businesses.