New Delhi, February 1: In the Union Budget 2023, produced by Finance Minister Nirmala Sitharaman on Wednesday, the Permanent Account Number (PAN) will be used as a common business identifier for all digital systems of specified government agencies. This will help in ease of doing business in the country, which will implement with a legal mandate, FM said. 

While speaking during the presentation of the Union Budget 2023, Sitharaman said, “A system of unified filing processes will be set up so that agencies can get data from a common portal as per the choice of those filing returns.”

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She further said that if MSMEs fail to execute contract, 95 per cent of performance security will be returned to small business as part of Vivad Se Vishwas scheme. This scheme Vivad Se Vishwas provides for settlement of disputed tax, interests, penalty or fees in relation to an assessment or reassessment order on payment of 100 per cent of the disputed tax and 25 per cent of the disputed penalty or interest or fee.

The common identifiers will be used for Aadhar and Digilocker. PAN is a 10-digit alphanumeric number allotted by the income tax department to a person, firm or entity

She also said Aadhar and Digilocker will be used as common identifiers.

The Income Tax department on December 24, 2022, also issued an advisory that those permanent account numbers which are not linked with Aadhaar by the end of March next year will be rendered “inoperative”.

The Permanent Account Number (PAN) will be used as a common business identifier for all digital systems of specified government agencies. This will facilitate ease of doing business and will be implemented with a legal mandate, Finance Minister Nirmala Sitharaman said.

Speaking during the presentation of the Union Budget 2023, Ms. Sitharaman said, “A system of unified filing processes will be set up so that agencies can get data from a common portal as per the choice of those filing returns.”

She further elaborated by saying that Aadhar and Digilocker will be used as common identifiers.

On December 24, 2022, the Income Tax department also issued an advisory that those PAN, which are not linked with Aadhaar by the end of March next year will be rendered “inoperative”.

The PAN is a 10-digit alphanumeric number which is allotted by the IT Department to a person, firm or entity; while the Aadhaar is issued by the Unique Identification Authority of India to a resident of India.

Under Digital India programme, Digilocker is an initiative by the government where citizens can get authentic documents/certificates in digital format from the original issuers of these certificates. This programme aims in reducing the use of physical documents. This also enhances the effectiveness of service delivery, making these hassle free and friendly for the citizens.

Finance Minister also said that Phase-III of e-courts will be launched. The state support mission of Niti Aayog will continue for three years, the finance minister said.

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- With inputs from agencies

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