PAN Card: Budget speech is being given in the Parliament on behalf of Finance Minister Nirmala Sitharaman. During this, many important announcements have been made by the Finance Minister. At the same time, the government’s effort has been to provide relief to farmers and businessmen in the budget. Meanwhile, an important announcement has also been made by Finance Minister Nirmala Sitharaman regarding the PAN card in the budget. Businessmen are going to get benefit from this announcement.
In the budget speech on behalf of Finance Minister Nirmala Sitharaman, it was said that PAN cards will be given the status of common identity in business. On behalf of Nirmala Sitharaman, it was said that KYC will be made easier in business. Businessmen are going to benefit a lot from this announcement by Finance Minister Nirmala Sitharaman.
In her budget speech 2023
KYC process will be simplified by adopting a risk-based approach, says Nirmala Sitharaman. A one-stop solution for updating identity will be set up using the DigiLocker service and Aadhaar as the primary identity. Permanent Account Number (PAN) will be used as a common identifier for all digital systems of government agencies.
Common Identity
Finance Minister Nirmala Sitharaman said that business establishments are required to have a Permanent Account Number (PAN card), PAN will be used as a common identifier for all digital systems of specified government agencies. Explain that a Permanent Account Number or PAN card is a means of identifying various taxpayers in the country. PAN card is a 10-digit unique identification alphanumeric number (consisting of both letters and numbers). PAN card is assigned to Indians and is also used to make tax payments.
Read: These cars have become expensive even before the budget, don’t know what will happen later!
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