Govt Awards Pan 2.0 Ltimindtree project, say sources

The government granted a tax card upgrade project to Ltimindtree, according to the sources. They said that the project, the PAN 2.0 Income Tax Management Project, is expected to be alive in 18 months. Ltimindtree won the project after making successful bids.

The PAN 2.0 project aims to simplify the Pan/Tan operations to improve the quality of the service, ensure the service providing faster and improve the mechanisms of grievance. You will deal with comprehensive PAN and TAN matters, including customization, updates/corrections, the connection of Aadhaar-Pan, re-displacement requests, validation of childbirth online, etc.

According to what was reported, the government received four bids for this process.

Meanwhile, Ltimindtree shares settled by 1.42 percent at 5,088.25 rupees on Monday. In this final value, the stock lost 10.33 percent of the year (YTD).

What is Ban and Tan?

Pan is the permanent account number, while Tan is the tax account number and the collection account. Each of the general and Tan of 10 digital alphabet numbers.

The PAN card is issued to all taxpayers and non -taxpayers in the country, while Tan is issued to those who deduct or collect taxes under Article 203A of the Indian Income Tax Law of 1961.

Pan is required for all financial transactions. Although it is mostly used for income tax purposes, it is also acceptable as evidence of the individual identity. It is also used during the purchase of real estate, cars or other similar assets. Meanwhile, Tan is important for TDS revenues, payments, and challants. Once you get Tan, companies must provide TDS every three months.

Individuals with taxable income, student, and non -tax income, all of whom can apply for PAN, while Tan is required by the central or governmental and local authorities, companies, branches and divisions of the company, companies, associations, trust, HUFS, only ownership and partnerships.