Union Budget 2023: PAN to be common business identifier

Using the unique identifier PAN, common information and documents could be auto-fetched across systems.

Union Finance Minister Nirmala Sitharaman presents the Union Budget 2023-24 in the Lok Sabha, in New Delhi, Wednesday, Feb 1, 2023. (PTI Photo)

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Union Budget 2023: PAN to be common business identifier

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Presenting the Union Budget 2023, Union Finance Minister Nirmala Sitharaman Wednesday said the Permanent Account Number (PAN) will be made as a single business identifier for all digital systems of all specified departments of the government. This is expected to ease the compliance burden of businesses.

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Using the unique identifier PAN, common information and documents could be auto-fetched across systems. An integrated system at the central and state level departments will provide relief to the user from repeated submission of documents, ensure the authenticity of the same and lead to quicker processing of requests.

Moreover, the Finance Minister also announced that more than 39,000 compliances have been reduced and 3,400 plus legal proceedings have been decriminalised to enhance the ease of doing business.

First published on: 01-02-2023 at 11:57 IST