New Delhi:Permanent Account Number (PAN) will be provided exclusive corporate identity for all financial processes. Such a proposal is planned to be put up in the 2023 budget. Budget 2023 may include a provision that can allow an individual or organization to link their PAN card to any other process to simplify procedures.
Investors will probably benefit from this as they will not be required to provide numerous types of identification to the national single window system for project-related clearances and approvals. The Union Cabinet chaired by Prime Minister Narendra Modi has approved incentive schemes for promotion of RuPay debit cards and low-value BHIM-UPI transactions (merchant to person) for a period of one year from April 2022.
