PAN or Permanent Account Number fills in as a one of a kind number for a personal citizen and nobody is permitted to hold more than one PAN number. Additionally, no two people or substances can hold a similar PAN number according to the annual assessment rules.
PAN or Permanent Account Number fills in as a special number for a personal citizen and nobody is permitted to hold more than one PAN number. Additionally, no two people or elements can hold a similar PAN number according to the annual assessment rules. Presently it is compulsory to cite PAN while making enormous buys or banking exchanges. No individual can profit of any sort of credit from a foundation without citing his/her PAN subtleties.
What if you have two PAN cards?
On the off chance that, in any way, shape or form, you have obtained two PAN cards, at that point you should give up the extra card right away. Here and there, on applying for a PAN on the web, it gets postponed and doesn’t arrive at the citizen physically. The individual re-applies and winds up getting two PAN cards with various numbers. Be that as it may, this is a major offense. A powerful punishment of Rs 10,000 is at risk to be forced under segment 272B of the Income Tax Act, 1961 for having more than one PAN. In this manner, on the off chance that an individual has been dispensed more than one PAN, at that point he ought to promptly give up the extra PAN cards.
How to surrender your additional PAN?
In order to surrender your additional PAN, you can either go online or submit the form offline. There is a common form for surrendering or for making any changes in the PAN. You can download the form from the link that says “Request For New PAN Card Or/ And Changes Or Correction in PAN Data” on the official NSDL website and submit at any of the NSDL offices.
You can fill and submit the PAN Change Request application form by mentioning the PAN which you are using currently on top of the form. While all other PAN/s you hold should be mentioned at item no. 11 of the form. Also, attach the corresponding PAN card copy that is submitted for cancellation along with the form.