In a major digital governance push, the Income Tax Department of India has awarded a ₹790 crore contract to LTIMindtree, a top Indian IT company, to overhaul the PAN card infrastructure. The goal? To make India’s Permanent Account Number (PAN) system more efficient, tech-driven, and fraud-resistant in the coming decade.
What’s Changing in the PAN System?
The project is not just about updating the database. It’s a complete modernization of the PAN ecosystem, which is used by over 60 crore Indians for taxation, identity, and financial transactions.
Key upgrades include:
24x7 real-time verification and faster PAN generation
Integration with Aadhaar, e-KYC, and GSTN systems
Improved fraud detection and identity theft prevention
Cloud-based infrastructure for scalability and speed
Better APIs for banks, NBFCs, and fintech platforms
Who’s Behind the Tech?
LTIMindtree, one of India’s largest IT services companies, will lead the modernization drive over the next 8 years. The company won the contract after a competitive bidding process run by the Income Tax Department.
It will replace the old TIN (Tax Information Network) infrastructure with a modern, cloud-native, AI-enabled architecture.
Why This Matters for Every Indian
Whether you’re applying for a loan, filing taxes, or doing KYC verification, your PAN card is central to your financial identity. With this upgrade:
Faster PAN issuance (within minutes)
Better fraud checks for personal loans and credit applications
Smoother integration for fintech users, tax filers, and investors
More secure systems to protect your financial data
Vizzve Finance Insight
Just like digital finance is evolving rapidly, so must the tools that support it. PAN, a once-paper-based ID, is now a real-time API-powered verification asset. For loan seekers, taxpayers, and startups — this move ensures speed, safety, and scale.
At Vizzve, we believe this upgrade marks a new era in digital onboarding for financial services in India.
Timeline and Next Steps
LTIMindtree will begin the phased rollout in FY 2025-26
The old system (NSDL/UTIITSL based) will be gradually retired
Income Tax Department is expected to make PAN a part of the Digital Public Infrastructure (DPI) ecosystem
Published on : 4th August
Published by : SMITA
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