Everything about pan card surrender.
Having multiple Pan Cardsis a crime and it can lead you to pay a large amount of fine as well as can result him/her being jailed. If you have more than one Pan Card, you have tocancel/surrender your additional PAN cards. It is mandatory to link your Aadhar card with the Pan card.
Pan Card cancellation formOnline:
When an individual wants to cancel the additional PAN card, he/she first needs to get the PAN card cancellation form. The form is the same like a new PAN application or for correction on an existing PAN card.
- Visit https://www.tin-nsdl.com/
- Click on the ‘Apply for PAN Online’
- Applicant will be redirected to a new page where they need to fill up the details correctly.
If you want to cancel the additional PAN card offline,
You will get the offline form for cancellation
Pan card cancellation online process:
Pan Card cancellation onlineprocess is very easy.
- Log on to the official website of the income tax department: http://incometax.sparshindia.com/pan/newPAN.asp
- Fill up all the details carefully.
Or, you can fill up the ‘PAN Change Request’ form.
The PAN currently in use will be mentioned on the top of the form. The additional PAN documents should be allotted in item no. 11. The PAN card which you want to cancel should be submitted with the form.
Reasons for cancellation or surrender of a PAN card:
If you have multiple PAN cards then you have to surrender the additional PAN because it will attract a penalty of Rs.10,000.
A multiple Pan Card holder may choose to cancel a PAN card for the following reasons:
- The income tax department has issued multiple PANs inadvertently
- An applicant can apply multiple times for a PAN card, so multiple PANs are issued against his name by the income tax department
- NSDL or the income tax department can mistakenly allot multiple PAN cards to one applicant.
- If the present Pan card has any error then it might get cancelled.
Conclusion:PAN card mainly works as an identification card. PAN card is mandatory for both taxpayers and individuals. If you have multiple Pan Card on your name then it can cause a lot of problems. You might get jailed and have to pay a huge amount of fine. If any individual is having multiple pan card then he/she should cancel the alternate Pan Card immediately. For that you need to know how to cancel pan card. This article will guide you to do a successful pan card surrender.