What happens if I have 2 PAN cards?

It’s illegal for a person or company to have more than one PAN Number. If caught, Income Tax Department can take a legal action or put financial penalty. This results in having more than one PAN number. A person who has applied for PAN can check the status of PAN online also instead of reapplying it.

Can we apply PAN card twice?

It is not permissible by the income tax law to have more than one Permanent Account Number. However, there are chances that you can receive more than one PAN card having the same number or different numbers. The taxpayers need not worry about this issue.

How can I check more than one PAN card?

Step 1 – Visit the tin-nsdl.com. Step 2 – Click on PAN under the ‘Services’ tab. Step 3 – Click on ‘Apply’ under ‘Change/Correction in PAN data. Step 4 – Under ‘Application type’ select ‘Changes or Correction in existing PAN data/Reprint of PAN Card (No changes in existing PAN data)’

How can I cancel my second PAN card?

If you wish to cancel/ surrender your PAN (which you are currently using), then you need to visit your local Income Tax Assessing Officer with a request letter to cancel/ surrender your PAN.

Can PAN card be Cancelled?

Can one cancel their PAN Card application and reapply for a new one? No, one cannot cancel their PAN application and apply for a new one. Only if an assessee has been inadvertently allotted an additional PAN, can they make an application request to surrender/modify the additional one.

How can I cancel my dual PAN card online?

Follow these steps to surrender your PAN card online:

Visit the NSDL website.
From the “Application Type” drop-down, select the “Changes or Correction in existing PAN Data/Reprint of PAN Card (No changes in existing PAN Data)” option.
Fill out the form completely and click the ‘Submit’ button.

How can I cancel my PAN card and get a new one?

If an assessee wants to cancel the PAN in order to apply for a new one, they can do it by filling up a request form that has to be submitted along with a demand draft or cheque of Rs. 96 (Rs. 85 for the application + 12.36% Service Tax) in favour of ‘NSDL-PAN’.

Is PAN card safe to share?

Even just sharing your PAN number with someone whom you can’t trust is also not good. So avoid sharing PAN number also. Some suspicious persons may try to trace your PAN if they know some basic details about you. Like your surname, date of birth and in some cases your father’s name.

Is there penalty for having more than one PAN card?

This fine is imposed under Section 272B of the Income Tax Act and is meant to be a deterrent against owning multiple PANs. Individuals who have more than one PAN should immediately surrender the additional/ duplicate PAN to avoid penalties.

What to do if you have multiple PAN cards?

There is no need to worry as one can get rid of all the additional PAN cards at the Income Tax Department. Be it the issue of possessing multiple PAN cards, or having a duplicate PAN card, the only way to resolve it is to surrender those cards.

What happens if I Surrender my PAN card?

Surrendering the card by the Individual in order to help the authorities would not amount to penalties unless there is some intentional fraud committed by that person. Surrender basically means to cancel and submission of that PAN which is not required. So Basically there are 2 methods to do it, namely manual/offline and online.

What is the purpose of Permanent Account Number PAN card?

Permanent Account Number popularly known as PAN card is used for the various purposes like opening any account with the bank, making transactions, credit facilities, loans or even as an ID proof but the most vital purpose of the PAN card is for the tax purposes.

What happens if I have 2 PAN cards? It’s illegal for a person or company to have more than one PAN Number. If caught, Income Tax Department can take a legal action or put financial penalty. This results in having more than one PAN number. A person who has applied for PAN can check the…