Income Tax: Income tax department can impose heavy penalty on these PAN card holders, do this work immediately

0
246

Income Tax: Income tax department can impose heavy penalty on these PAN card holders, do this work immediately

Income Tax: PAN Card (Permanent Account Number) is an ID card issued by the Income Tax Department in India which is an important document for the Income Tax Department.

PAN Card Update: Many important documents are issued to the people in the country. Different things can be done through these documents. At the same time, PAN card is also included in these documents in the country. Financial transactions can be completed in the country through PAN card. Also, the government relies on the information received through PAN details to determine the tax liability of the people. However, some important things regarding PAN card should also be taken care of, otherwise fine may also be imposed.

PAN card

Actually, people should keep in mind that no one in the country has been allowed by law to have duplicate or more than one PAN card. In such a situation, if a person holds more than one or duplicate PAN card, then he may have to face serious problems.

Duplicate PAN Card

Anyone who has more than one or duplicate PAN card can be in big trouble. Actually, many times PAN card can be issued twice due to double application. In such a situation, people should avoid this situation. People may have to face a lot of difficulties if caught. Some individuals may have received the card from the IT department while others may have received it from agencies to whom the work was outsourced.

Looks fine

In such a situation, people will have to cancel one of their PAN cards. Some people may apply for more than one PAN with the intention of deceiving the government or saving money. These are gross violations and will attract fines. There are strict rules regarding holding more than one PAN, with the government imposing a fine of Rs 10,000 on anyone holding a duplicate PAN. This penalty has been imposed under section 272B of the Income Tax Act.

If one holds multiple PAN cards, he/she should surrender the ones, other than the original PAN card. One can get the multiple PAN cards both online and offline.

Log on to NSDL website – www.onlineservices.nsdl.com.

Go to “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 the form and click ‘Submit’. Note down the token number given following the registration.

Click on “Continue with PAN application form” option. Upload the scanned images as required.

Make the required payment via demand draft, credit card, debit card or internet banking.
Mention the PAN you want to retain and others which you want to surrender.

Select the proof of identity and address you want to submit.

Get the downloadable acknowledgement for future reference and a proof of payment.
The acknowledgement needs to be sent to NSDL e-Gov along with fix two photographs.
One can also fill Form 49A for Change or Correction in PAN and submit the form to the nearest UTI or NSDL TIN facilitation centre. Mention your personal details like the name on your PAN card, date of birth, PAN card numbers you want to surrender.