NEW DELHI (Reuters) -India has awarded IT services firm LTIMindtree a 7.9 billion-rupee ($90.14 million) contract to upgrade its taxpayer registration service, according to a tender document released by the government on Monday.
LTIMindtree shares closed 1.4% higher at 5,089 rupees on the day.
Permanent Account Number, or PAN, maintains a taxpayer’s record via a 10-character alphanumeric code and is provided on a physical card. As on March 2025, India has issued about 801 million PAN cards with around 98% allotted to individuals and the rest to firms and associations, among others.
The project, also known as PAN 2.0, approved by Prime Minister Narendra Modi’s administration in November 2024, is expected to be operational in 18 months, a government source, who did not want to be named, said.
PAN 2.0 project aims to upgrade taxpayer registration by further digitising its service, and improving infrastructure security and efficiency.
LTIMindtree spokesperson confirmed the development over an email, and said “We have been awarded this prestigious PAN 2.0 project.”
The government had received four bids for the contract, the document showed, but did not identify the other bidders.
The income tax department did not immediately respond to Reuters’ requests for comment.
($1 = 87.6440 Indian rupees)
(Reporting by Nikunj Ohri; Editing by Harikrishnan Nair and Mrigank Dhaniwala)
