Union Budget 2023-24 latest news: Union Finance Minister Nirmala Sitharaman made the announcement during the presentation of Budget 2023-24 on Wednesday.
She stated that the Permanent Account Number (PAN) will serve as a common identifier for all digital systems of specific government agencies. The action is likely to facilitate industry’s ease of doing business and improve tax administration.
“PAN will serve as a common business ID for all digital systems. According to Saurabh Agarwal, Tax Partner at EY, “This is a step toward inter-department data sharing of a taxpayer between various government organizations, which is likely to help in better tax administration and ease of doing business for industry.”
