How to Surrender PAN Card – Know the rules for surrendering PAN card : PAN card is one of the most important financial documents. PAN card is also used in many types of transactions today. It is also a valid identity card with tax requirements. Not only this, PAN Card is mandatory for many important tasks like opening a bank account, buying or selling property, buying or selling a vehicle, filing Income Tax Return, buying jewelry of more than ₹2 lakh.
How to Surrender PAN Card – Online Process
But in the midst of all this, we are going to tell you that if you have two PAN cards, then you can get stuck in a big mess. You may also have to pay a penalty. Not only this, the Income Tax Department can also cancel your valid PAN card with a big fine. Let’s discuss what the procedure of cancellation of PAN Card is –
Do you also have two PAN Cards?
If you have more than one PAN card, you may have problems. Not only this, you can also face heavy fines. Under Section 272B of Income Tax Act 1961, you can be fined ₹10,000. So it is important that if you also have two PAN Cards on the same name, then return one card to the department. Yes, surrender it without delay; otherwise you may have to pay a fine of up to ₹10,000.
Why two PAN Cards issues?
Often, when people apply for a new PAN card, card cannot reach them on time and they apply for another PAN Card. In such a situation, sometimes two PANs come to them and that too on a same name and address. Although both PAN numbers are different, but this is a big crime.
Steps to Surrender your Duplicate PAN Card
If you have more than one PAN card in your name, then surrender it immediately without delay. You do not need to go anywhere to surrender PAN card. You can surrender your second PAN card while sitting at home.
- Firstly, you have to go to the website of NSDL. Go to Application Type and drop down here.
- After this, you have to choose the option of “Changes or Correction in existing PAN Data / Reprint of PAN Card”.
- After this you have to fill the complete form.
- After filling the form, after clicking on Submit, your request will be registered.
- You will get a token number from there and this information will also come on your email.
- After this you have to click on Continue with PAN Application Form, after which a new web page will open.
- On new web page, you have to choose the option of Submit scanned images through e-Sign.
- After this, you have to fill your PAN number details.
- Keep in mind Fill the PAN number here that you want to continue.
- After this, you fill your personal details, contact number and other information in the form.
- After that, you have to fill the details of the extra pan which you want to surrender.
- After this, you have to fill the proof of your ID, address and date of birth, which is written in your PAN card that you want to submit. During this time, you will have to upload your photograph, signature and scan copy of the required documents.
- After filling the form, payment has to be made. You can pay through demand draft, credit card, debit card or internet banking.
- With this information, you will have to send an application to the NSDL e-Gov to cancel a PAN with a print copy of the receipt and two photos.