Permanent Account Number or PAN is ans one of a kind recognizable proof number gave by the Income Tax Department to each expense paying entity(individual or company). The 10-digit alphanumeric number is utilized as a character evidence for different banking and other monetary transactions.
An person’s PAN helps the I-T office track all the money related exchanges done through the authentic course with the goal that it can find out the genuine acquiring of an individual or company.
Under area 139A of Income-Tax Act, 1961 one individual can have just one PAN card. The PAN continues as before regardless of whether the PAN holder changes his location. It is illicit to have more than one PAN card. Any individual got with two or different PAN cards can confront legitimate activity or monetary penalty.
As per the Section 272B of the Income-Tax Act, a punishment of Rs 10,000 can be imposed on ownership of various PAN. Subsequently, in the event that you have at least two PAN, at that point you should give up the extra PAN. One can give up extra PAN online as well.
Here is the step by step process to surrender additional PAN online
1. Visit NSDL website (https://www.onlineservices.nsdl.com/paam/endUserRegisterContact.html)
2. On the Online PAN application page, in ‘Application Type’ drop-down select ‘Changes or Correction in existing PAN Data/Reprint of PAN Card’ option, fill out your personal details and Captcha. Click submit.
3. After this, you will be redirected to a new page. Here a token number will be displayed. Now tick the option ‘Submit scanned images through e-Sign’ and under that mention the PAN number you want to retain. Click ‘Next’.
4. On the Contact & other details page, mention your address for communication and at the bottom of the page, mention the additional PANs that you want to surrender. Click on ‘Next’.
5. On the next page opened, select proof of identity, residence and date of birth you wish to submit. After this, upload the scanned images of your photo, signature and the required documents.
6. In the next step, you will see a preview of your filled application form. Check all the details, edit if required and proceed to make payment.
7. After the payment is made, download the acknowledgement page appeared on the screen. Save it for future reference and take a print of it and send it to NSDL e-Gov.