Every taxpayer is given a Permanent Account Number (PAN). According to the Income Tax Department, a person cannot hold more than one PAN. The same individual cannot apply for obtaining another PAN when he or she has already been allotted one.
It could be possible for an individual to possess two PANs after making dual applications or when making a correction to an existing PAN.
“A penalty of ₹10,000 is liable to be imposed under Section 272B of the Income-tax Act, 1961, for having more than one PAN,” the Income Tax Department has mentioned on its website. Hence, if an individual possesses more than one PAN, then they will have to immediately surrender the duplicate PAN.
Note: Individuals can download an electronic PAN card to possess a soft copy.
- Also read: How to find a fake GST invoice?
Steps to surrender duplicate PAN card
Step 1: Head to the website of UTIITSL or Protean (formerly NSDL eGov). PAN card-related services are also available in UMANG.
Step 2: Click on “changes or correction in PAN card” available under the PAN services.
Step 3: You can choose to download and submit the form offline or click on “apply for change or correction” to perform online.
The form can be filled out and submitted both online and offline. However, you will be required to submit the necessary documents at any National Securities Depository Limited (NSDL) office. You need to produce the PAN card you want to surrender along with the form.
- Also read: How to access Passport Seva in UMANG
Can a PAN become inoperative?
According to the Income Tax Department, if the PAN is not linked with Aadhaar before June 30, 2023, it will become inoperative — meaning the PAN holders will no longer be able to use their ten-digit alphanumeric number.
- Also read: Check PAN-Aadhaar linking status