The Central government has announced the launch of PAN 2.0 Project, an upgrade of the current PAN/TAN system, as part of its Digital India initiative. The project aims to provide taxpayers with a new PAN card with a QR code feature, ensuring a more efficient and technology-driven process for taxpayer registration. The government will be investing 1435 crore in the project, promising benefits such as improved service delivery, data consistency, and a unified portal for ease of access.
PAN 2.0: Enhancing India's Taxpayer Infrastructure
Background: The Permanent Account Number (PAN) is a 10-digit alphanumeric code issued by the Income Tax Department of India to individuals and entities for the purposes of taxation and financial transactions. Introduced in 1995, PAN has become an essential tool for tax administration and financial identity management.
PAN 2.0 Project: As part of the Digital India initiative, the Central government has announced the launch of the PAN 2.0 Project. This is an upgrade of the current PAN/TAN system, aiming to enhance efficiency and convenience for taxpayers.
Key Features of PAN 2.0:
Investment and Benefits:
FAQs:
1. Why is the PAN 2.0 Project being introduced? To update the existing PAN system and introduce advanced technologies to improve efficiency and convenience for taxpayers.
2. What are the main features of PAN 2.0? QR code, digital locker, unified portal, and improved service delivery.
3. How can I apply for a PAN 2.0? The process for applying for a PAN 2.0 is yet to be announced.
4. Will the current PAN cards become invalid? No, existing PAN cards will continue to be valid.
5. How will PAN 2.0 impact taxpayers? Taxpayers will benefit from faster processing times, reduced errors, and a more user-friendly tax administration system.
Tesla, a leading electric vehicle (EV) company, has finally announced its foray into the Indian market with its first showroom opening in Mumbai this month. The company faced several delays due to import taxes and regulatory hurdles, but is now set to launch its first Experience Centre at the Bandra Kurla Complex. Tesla plans to offer six models in India with varying prices, starting from $40,000 and going up to $46,000. The company also plans to expand to Delhi and Bengaluru in the coming months, amidst new government rules aimed at boosting the production of electric cars in the country.
The highly anticipated Amazon Prime Day Sale is now live, offering some of the best deals on smartphones, electronics, and more. Popular brands like Samsung, OnePlus and Apple are offering attractive discounts on select models. Don't miss out on the opportunity to grab the Samsung Galaxy S24 Ultra, Apple iPhone 16e, OnePlus 13, and iPhone 15 at discounted prices.
New research has shown the use of artificial intelligence can create a highly productive and respectful performance review conversation between managers and employees. In contrast to the traditional approach, Samvāda 2.0 encourages managers to use communicative GenAI tools, like ChatGPT or Copilot, to get prepared for a critical PRM session. This new and improved method ensures a mutual understanding, collaboration, and trust between the manager and employee, leading to more effective performance reviews.
The much-anticipated Amazon Prime Day Sale has officially begun, offering early deals until July 14. As an exclusive event for Prime members, this sale boasts discounts on popular electronics, including smartphones, smart TVs, air conditioners, and laptops from top brands like OnePlus, Samsung, iQOO, and more. With savings reaching up to 80%, it's a must-visit for tech enthusiasts and online shoppers alike.
In a major move for the Ambani family's succession plan, Anant Ambani has been promoted to Executive Director at Reliance Industries Ltd with a salary between ₹10 crore and ₹20 crore per year, plus a profit-linked commission and executive perks. Anant, who has been with the Reliance Group since 2015, will be in charge of the energy business and capital projects, including the company's foray into new energy sources.
Amazon Business has released a statement declaring their exciting deals for Prime Day 2025, which will take place from 12th to 14th July. This year's celebration will be the longest one yet- lasting for 72 hours! Customers can expect jaw-dropping discounts on a variety of products, so mark your calendars and get ready for some major shopping.
Zivame's latest campaign encourages women to break out of their comfort zones and embrace their inner desires with confidence, by providing them with intimate wear that is tailored to their body type and personal style. The campaign features women from different backgrounds and ages, showcasing how the right intimate wear can boost their body confidence and allow them to pursue their dreams without hesitation. With the tagline "Dekho Maine Kya Kiya," the campaign celebrates the freedom and joy that comes with embracing one's desires and showcasing them to the world.
Petroleum and Natural Gas Minister Hardeep Puri has silenced critics who questioned India's continued crude oil imports from Russia during their ongoing war with Ukraine. Puri explained that halting oil trade with Russia would have led to a 10% reduction in global oil supply, causing chaos and driving prices to over USD 120-130 per barrel. He also added that India, under the leadership of PM Modi, has been a positive contributor to global energy price stability while navigating the trilemma of energy availability, affordability, and sustainability.
Contact Energy, a New Zealand utility company, has successfully acquired Manawa Energy in a deal valued at over $200 million. This acquisition will result in Infratil, a major shareholder of Manawa, now owning a 9.5% stake in Contact Energy. The completion of the deal also brings changes to Manawa's board of directors, with four new directors from Contact joining and Manawa's previous chair, Deion Campbell, now sitting on Contact's board. The acquisition was first announced in September 2024 and has received necessary approvals before being finalized in June 2025.
Indian equity markets started off on a weak note on July 11 as Tata Consultancy Services (TCS) reported disappointing Q1 results. This resulted in a sharp decline in TCS shares, dragging down the broader IT sector. As a result, the BSE Sensex fell by 331 points and the Nifty50 also slipped by 68 points. In the broader market, the Nifty MidCap and SmallCap indices also witnessed losses. However, the Nifty Pharma and PSU Bank indices offered some support with gains. Meanwhile, global markets were mixed following US President Donald Trump's announcement of tariffs on Canadian goods and his plans for further tariffs. Despite this, US markets closed at record highs.