PAN to be used as single business ID for all digital systems: Budget 2023

A Permanent Account Number will be soon used as a single business ID for all digital systems of specified government agencies.

Permanent Account Number

CA Pratibha Goyal | Feb 3, 2023 |

PAN to be used as single business ID for all digital systems: Budget 2023

PAN to be used as single business ID for all digital systems: Budget 2023

PAN (permanent account number) will be soon used as a common identifier for all digital systems of specified government agencies. This will help in expediting clearances and promote ease of doing business.

The announcement regarding PAN was made by Finance Minister Nirmala Sitharaman in her Budget speech “For the business establishments required to have a Permanent Account Number (PAN), the PAN will be used as the common identifier for all digital systems of specified government agencies. This will bring ease of doing business; and it will be facilitated through a legal mandate”.

In the Budget speech, Finance Minister also said that the government is planning a one-stop solution for reconciliation and updating of identity and address of individuals maintained by various government agencies, regulators and regulated entities will be established using DigiLocker service and Aadhaar as foundational identity.

The concept of single business ID if implemented can bring revolution as things would be available on single click.

FM also mentioned that India will have a one-stop solution for reconciliation and updating of identity and address of individuals maintained by various government agencies, regulators and regulated entities will be established using DigiLocker service and Aadhaar as foundational identity.

 

 

StudyCafe Membership

Join StudyCafe Membership. For More details about Membership Click Join Membership Button
Join Membership

In case of any Doubt regarding Membership you can mail us at [email protected]

Join Studycafe's WhatsApp Group or Telegram Channel for Latest Updates on Government Job, Sarkari Naukri, Private Jobs, Income Tax, GST, Companies Act, Judgements and CA, CS, ICWA, and MUCH MORE!"




Author Bio
My Recent Articles
New NPS rule from 1st April: Check What is Changed in New NPS Rule Due Date for Mutual Fund ELSS Investment for 80C is 28th March not 31st March: Hurry Up Late MSME Payment section 43B(h) now reality: What to do in this case These Income Tax High Value Transactions that May Trigger Notice from IT Department; Check List Last Chance to file Updated ITR for AY 2021-22: Be Ready to pay 200% of Tax Evaded if missedView All Posts