LTIMindtree awarded Rs 792 crore PAN 2.0 project
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New Delhi: The Central Board of Direct Taxes has awarded the Permanent Account Number (PAN) 2.0 project to LTIMindtree Ltd, the L&T Group's software services arm, officials said.LTIMindtree submitted a bid of ₹792 crore. The bid of Protean eGov Technologies got rejected, the officials said.Confirming the development, a spokesperson for LTIMindtree said, "We have been awarded this prestigious PAN 2.0 project which looks to enhance the PAN issuance process and security through technology-driven innovation."The government had earlier estimated the cost of PAN 2.0 project at ₹1,435 crore. The project is aimed at making PAN a 'common business identifier' for all digital systems of government agencies. This would entail launching a new portal that would host all end-to-end services related to PAN for the ease of taxpayers.There are about 746.7 million PAN holders as of March-end. The finance ministry has already clarified that it will not be mandatory for taxpayers already carrying a PAN card to upgrade to the new PAN card. However, taxpayers will get the option of correcting their name or any vital information in the new system.LTI Mindtree will be the managed service provider for the design, development, implementation, operations, and maintenance of the system, which is expected to go live in the next 18 months.
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LTIMindtree awarded Rs 792 crore PAN 2.0 project
Live Events (You can now subscribe to our (You can now subscribe to our Economic Times WhatsApp channel New Delhi: The Central Board of Direct Taxes has awarded the Permanent Account Number (PAN) 2.0 project to LTIMindtree Ltd, the L&T Group's software services arm, officials submitted a bid of ₹792 crore. The bid of Protean eGov Technologies got rejected, the officials the development, a spokesperson for LTIMindtree said, "We have been awarded this prestigious PAN 2.0 project which looks to enhance the PAN issuance process and security through technology-driven innovation."The government had earlier estimated the cost of PAN 2.0 project at ₹1,435 crore. The project is aimed at making PAN a 'common business identifier' for all digital systems of government agencies. This would entail launching a new portal that would host all end-to-end services related to PAN for the ease of are about 746.7 million PAN holders as of March-end. The finance ministry has already clarified that it will not be mandatory for taxpayers already carrying a PAN card to upgrade to the new PAN card. However, taxpayers will get the option of correcting their name or any vital information in the new Mindtree will be the managed service provider for the design, development, implementation, operations, and maintenance of the system, which is expected to go live in the next 18 months.
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