If someone has more than one PAN Card, then he can be fined Rs 10,000 under the Income Tax Act 1961. If you have more than one PAN card by mistake, then you surrender a PAN card immediately. Let us tell you how you can surrender the pan.
Do you know that PAN is a unique number and the PAN of two people or two companies cannot be the same. If someone gets two PAN cards, then strict legal action can be taken against them. If someone has more than one PAN, then he can be fined Rs 10,000 under the Income Tax Act 1961.
If you have more than one PAN card by mistake, then you surrender a PAN card immediately. Let us tell you how you can surrender the pan. It is better to get rid of excess PAN as soon as possible before getting caught in any legal action. That is why today we are giving you all the necessary information related to it.
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In such a situation, what should be done by the
tax experts is that to surrender more than one PAN, both online and offline methods can be applied. For this, go to NSDL website or office and click on Request For New PAN Card Or / And Changes Or Correction in PAN Data. Fill this form and submit it.
>> Mention the PAN you want to continue in this form, top it and fill the remaining PAN information in item number 11 in the form. Apart from this, copy the PAN which is to be canceled with the form.
>> Some people make different PANs for different tasks. Separate PAN for Demat account and make a separate PAN card for the payment and return of income tax.
>> Apart from this, many people apply for fresh pan after the old pan is lost. Because of this, they have many PANs.
>> If a separate PAN is prepared for Demat and Income Tax, then a PAN will have to be surrendered. In both of these surrender the PAN which you use for the purpose of income tax. Surrender the second PAN and send them the information of your original
