Know the process and reasons for surrendering a PAN card. Having more than one PAN card can result in a penalty. Surrender can be done both online and offline.
PAN card and Aadhaar card are also very important government cards for Indian citizens. Which are used as their identity and as a qualification in financial transactions. PAN card is such a very important card. While doing financial transactions, one often has to give the PAN card number for big transactions. But sometimes this PAN card has to be returned to the government. Let’s know the rules and procedure for surrendering this card. ‘Zee News’ has reported on this.
Like Aadhaar, PAN card is also an important document. It is required from opening a bank account to paying income tax. But what will you do if there is any mistake in the PAN card or you have more than one PAN card? In such a case, you can surrender the PAN card. Know in which situation you have to surrender the PAN card and how to do it.
When do you have to surrender your PAN card?
If you have more than one PAN card. If your PAN card is lost. If your PAN card has been deactivated by the Income Tax Department. If the information on your card is incorrect. If your PAN card is in the name of a company or firm and that company or firm is closed, you may have to surrender your PAN card. The PAN card of a deceased person is surrendered. If you go to live outside India permanently, you have to surrender your PAN card.
If you have more than one PAN card, you should surrender one of them in time because if the Income Tax Department gets the information, you can be taken action against. According to the rules of the Income Tax Department, if a person has two PAN cards, he can be fined up to Rs 10,000 or imprisoned for at least 6 months. In a case, both the punishment and the fine can be imposed.
How to Surrender?
You can surrender your PAN card both online and offline. To surrender online, go to the NSDL website. Then, from the Application Type drop-down, select Change or Correction of Existing PAN Data / Reprint of PAN Card (No change in existing PAN data) option. After submitting the form, your request will be registered. After this, a token number will be sent to your email ID.
Note down the token number and continue the process by clicking on Continue with PAN Application Form given below. Now a new webpage will open.
Select the option to submit scanned photo via e-sign. You will have to fill in the details of the PAN card you want to keep at the bottom left of the page. Fill in the requested information, then select the Next option. After this, upload the requested documents like photo, signature, address, identity card, etc. Make the payment where required. After making the payment, you will see a receipt to download. Download it and keep it safe.
Now send a copy of the receipt along with two photos and other necessary documents to the NSDL office by post. Before sending the receipt, write down the application for cancellation of PAN and the receipt number on the envelope. After the death of the PAN card holder, his family or relatives will have to write a letter to the Income Tax Officer of the concerned area, which should include the PAN card surrender (death of the holder) and death certificate. Apart from this, the necessary information like name, PAN card number, date of birth etc. will have to be given.
If you have shifted out of India, have incorrect information in your PAN card, have lost your PAN card or in any other situation, you can approach the nearest Income Tax officer in your area and apply for its cancellation. The application will have to state the reason for surrendering the PAN card, along with all the necessary information and documents.
