Attention! Having More Than 1 PAN Card Attracts Fine Of Rs 10,000

New Delhi: Having more than one PAN card is illegal and the Income Tax Department may impose a fine of Rs 10,000 on you under Section 272B of Income Tax Act 1961. Yet, some people intentionally apply for more than one PAN card so that they can apply for loans in case their credit history linked to the previous PAN card was poor. Some even try to reduce their tax liability by splitting up their income by using multiple PAN cards.

There are situations when people end up having multiple PAN cards unintentionally. This happens if they lose their first PAN card and apply for another one rather than requesting for a duplicate one. Some women apply for a new PAN card to change their maiden name after marriage instead of requesting an update in the original card information. Since it is mandatory to link PAN card with Aadhaar number, it is easy to identify cases of multiple PAN cards for the government.

If you hold multiple PAN cards, you should cancel/surrender the ones which you don’t intend to use and keep only one PAN card with you.

To surrender your card online, visit the income tax website- https://www.incometaxindia.gov.in. Check the ‘important links’ section in the left-hand bottom of the page. Click on ‘Apply for PAN’. It will redirect you to another window. On the new page, click on the ‘UTITSL’ link. A CSF Form will open, fill the details on the CSF form. Select item no. 11 on the form and mention the PAN card numbers you want to cancel/surrender and provide copies of them and click on submit.

Similarly, you can surrender your multiple PAN cards offline by filling Form 49A for Change or Correction in PAN and submit the form to the nearest UTI or NSDL TIN facilitation centre. Write a letter to the assessing officer under whose jurisdiction your income tax is filed and mention your personal details like the name on your PAN card, date of birth, PAN card numbers you want to surrender. Send the letter to the nearest tax office to complete the process.

Also Read: Mumbai Rains: 500 Passengers Rescued From Mahalaxmi Exp