You Also Have Two PAN Card, So Do This Work Quickly, Otherwise a Fine of Rs 10,000 Will Be imposed!

You also have two PAN Card, so do this work quickly, otherwise a fine of Rs 10,000 will be imposed!

Double PAN Card: The Income Tax Department has given strict instructions in case a person has two PAN cards. If a person hides it, then under section 272B of the Income Tax Act 1961, he may have to pay a jail term of 6 months or a fine of up to Rs 10,000.

Like Aadhar Card, PAN Card has also become the most important document in today’s time. It is demanded in every financial work. Then whether it is to open a bank account or to buy a property. But many such cases have also come to the fore that two PAN cards were made by mistake of one person. If this has happened to you too, then this mistake can become a problem for you and a heavy fine can be imposed.

READ ALSO | Due to AI, people of these 3 industries can lose their jobs, revealed in the latest report

provision of jail and fine

The Income Tax Department has already issued guidelines to correct this mistake. According to the department, it is illegal to have more than one PAN card. Under section 272B of the Income Tax Act 1961, in case of doing so and hiding this fact, you may have to pay a jail term of 6 months or a fine of up to Rs 10,000.

READ ALSO | Solar Rooftop Subsidy Yojana: Spend 72 thousand just once, electricity will be available for free for 25 years, understand the complete math here

Surrender the extra pan card soon

It is important for you to surrender the extra PAN card as soon as possible. The Income Tax Department provides both online and offline facilities to surrender the additional PAN card. For this, you can complete the process by logging on to the official website of Income Tax Department or you can do this work by going to the concerned NSDL office. The sooner you do this work, the more you will be in profit.

READ ALSO | Driving license transfer step by step complete guide

This is the process of PAN card surrender

The process of surrendering PAN card is very easy. For this, you have to go to the website of the Income Tax Department and download the form there by clicking on the option ‘Request For New PAN Card Or/ And Changes Or Correction in PAN Data’. Then after filling this form one has to go to NSDL office with both the PAN cards and the necessary documents.

caution will save you from fine

You will have to submit the additional PAN card you have along with the filled form at the NSDL office. Please tell here that while completing this process, a bond of Rs 100 has to be filled. In this way, you can complete the process of surrendering your additional PAN card and save yourself from the penalty of up to Rs 10,000 for this mistake.

Posted by Talk Aaz.com

If you liked this article then do like and share it.

Thanks for reading this article till the end…