As you must be aware that every person needs to have their PAN card, which is considered very important from identity proof to opening bank accounts and financial transactions.
There are some such things with the PAN card, which are very important to take care of otherwise, you may have to pay a fine of thousands.
Now the Income Tax Department has become very strict regarding PAN cards.
Let us tell you that if a person has two PAN cards, the Income Tax Department has given strict instructions that if any person hides two PAN cards, then under section 272B of the Income Tax Act, 1961, he will be jailed for 6 months.
Or He may read to pay a fine of 10 thousand rupees. Not only this, it can freeze your bank account. Therefore, if you have two PAN cards, then surrender your second PAN card to the department.
You need to surrender the extra PAN card as soon as possible. The Income Tax Department provides both online and offline facilities to surrender the extra PAN card.
The Income Tax Department has issued guidelines to rectify this mistake. According to the department, it is illegal to have more than one PAN card.
Complete this process as soon as possible and submit your extra PAN card to the department.
Steps how to surrender your Additional PAN card
The process of surrendering PAN is easy. There is a common form that you have to fill out.
- Visit the official website of Income Tax i.e www.incomettaxindia.gov.com
- Click on the link ‘Request For New PAN Card and Changes Or Correction in PAN Data.’
- Download the form now.
- Fill up the form.
- Visit any NSDL office and submit the form there.
- Along with the form you also have to submit your second PAN card.
At the NSDL office, while completing this process, a bond of Rs 100 has to be filled.
This way you can complete the process of surrendering your extra PAN card and save yourself from a fine of up to Rs 10,000.