Irrespective of what the reason may be, maintaining a couple of PAN cards is unlawful and the earnings Tax branch can also levy a penalty of Rs 10,000 on you in case you fail to comply with the provisions. Pan Card Apply Online

New Delhi: PAN card is one of the most essential economic identification documents in India. PAN or permanent Account range is a completely unique 10-digit number allotted by using the profits Tax department. Having a PAN Card is obligatory for an earnings taxpayer. There have been many times within the usa where human beings have been discovered having a couple of PAN playing cards. however, consistent with the earnings Tax department guidelines, no person is allowed to hold multiple PAN range.

a few human beings intentionally observe for multiple PAN card to use for loans if their credit score records connected to the preceding PAN card is awful. a few also preserve multiple PAN card to reduce their tax legal responsibility by splitting up their earnings. however, under section 272B of the profits Tax Act, if a person has two PAN cards, then they will end up paying a penalty as much as Rs 10,000.
now and again human beings additionally grow to be maintaining more than one PAN playing cards by accident. for instance, they lose their first PAN card and they apply for every other one in preference to inquiring for for a duplicate one. typically in instances of ladies, once they get married, they apply for a brand new PAN card to change their maiden name rather than requesting for an replace of their authentic card itself.
multiple PAN cardholders now simpler to detect:
irrespective of what the motive can be, retaining a couple of PAN card is unlawful and the income Tax branch can also levy a penalty of Rs 10,000 on you if you fail to comply with the provisions of phase 139A, which incorporates conserving a couple of PAN cards. Now, with mandatory linking of PAN card with Aadhaar range, it has end up easier to perceive cases of more than one PAN cards for the authorities. So, you ought to absolutely be discouraged to keep multiple PAN cards.
What to do when you have multiple PAN card?
but, if due to any reason, you maintain a couple of PAN cards, you have to cancel/surrender the ones which you don't intend to apply and keep handiest one PAN card with you. PAN card may be surrendered each on-line and offline. here is how to do it.
online process to cancel more than one PAN cards:
visit the NSDL website. From the “utility kind” drop-down, select the “changes or Correction in existing PAN statistics/Reprint of PAN Card (No changes in current PAN facts)” alternative.
Fill out the shape absolutely and click the ‘put up’ button. once you submit the form, your request will be registered and a token number will be generated and despatched on the e-mail address stated inside the application.
observe down your token range for destiny reference and keep by using clicking the “continue with PAN utility shape” button.
you will be directed to a brand new website. on the pinnacle of the new web site, choose the “put up scanned pics through e-sign” alternative.
mention the PAN range you need to retain. Fill out your private info, touch and different info inside the shape.
point out the additional PANs which you need to give up after which click the ‘next‘ button to proceed.
pick out the evidence of identity, house and date of beginning you want to post.
add the scanned photographs of your image, signature and the required files. if you are requesting for the give up of PAN, sign the acknowledgement receipt
After submitting your details, you'll get a preview of your application form. affirm your information and make essential edits wherever required or continue to make the payment.
Make the specified price thru call for draft, credit score card, debit card or net banking.
once the price is a hit you may see a downloadable acknowledgement. save and print the acknowledgement for destiny reference and as a evidence of price.
ship a broadcast copy of the acknowledgement to NSDL e-Gov at the side of two snap shots. before sending the acknowledgement, label the envelope with ‘utility for PAN cancellation’ and the acknowledgement variety. ship the signed acknowledgement along with the demand draft (if required) and the specified files (proof of an present PAN (if any), proof of (identification, cope with and date of start)).
Offline procedure to cancel multiple PAN card:
you could surrender your more than one PAN cards via filling form 49A for change or Correction in PAN and put up the shape to the nearest UTI or NSDL TIN facilitation centre. additionally, write a letter to the assessing officer below whose jurisdiction your income tax is filed. point out your private information just like the name in your PAN card, date of beginning, PAN card numbers you want to surrender. send the letter to the nearest tax office. Pan Card Apply Online