PAN cards are valid for the holder’s lifetime, meaning the PAN number assigned to the individual or entity will not change in case of theft/loss.
Surrender of Duplicate PAN Card:
An individual or entity could have been an issue with duplicate PAN cards due to an administrative error or if he applied multiple times and received a PAN card each time. As it is illegal to have more than one PAN card at a time, the duplicates have to be surrendered.
Surrendering a duplicate PAN card can be done both online as well as offline.
If you have two pan cards then you may have to pay a fine. It has been mandatory to add the Aadhar and Aadhar to the bank with the bank. In such a situation, it is easy for the government to find out how many pans you have. Under Section 272B of the Income Tax Act, the Income Tax Officer can impose a fine of Rs 10,000 on those who have more than one PAN. In such a situation, keeping a pan is better to surrender to everyone else.
Let’s know, what the process of surrendering the pan online process is-
- The form where the PAN is applied, the same form has to be filled in the pan surrender. That is the reason that both of them are almost the same. To surrender the PAN, go to https://docs.nsll.nsdl.com/paam/endUserRegisterContact.html on the NSDL website. Choose the option of PAN Correction by going to the application type menu here.
- Selecting the option of PAN Correction in the menu of the application type will open a new page. Here you fill in personal details. The new page will open once the details are submitted and a token number will be generated.
- Then load the scanned copy of the pan by clicking on ‘Submit scanned images via e-Sign’ at the top of the page. Then fill the pan detail in the pan bracket that you want to keep.
- On the next page, fill the detail of the pan in the lower part, which you want to surrender. After filling the detail, click on the Next button.
- Fill all the information in the form for PAN cancellation and check the box in front of the left margin. Note that the PAN which is being cancelled is not the same and the current PAN is not the same.
- Upload ID proof, birth certificate proof and address proof on next screen.
After submitting everything, review the entire form once again and check all the information. Then proceed for payment.
- If the contact’s address is from India than Rs. 110 will be required for the PAN application. However, if the address is outside of India then processing fees of Rs 1020 will be charged. You can do Demand Draft, Credit / Debit Card or Internet Banking, by any means. If you are making Demand Drafts, then write Mumbai instead of Payables as NSDL – PAN. Be sure to write your name and the accountability number behind it.
- After payment, the accountability will appear on the screen. You can download it and print it and send a copy to NSDL e-Gov. Keep in mind that it is also safe for the future. Individual applicants should sign the cross sign by putting two photographs in the non-enrollment so that your signature will come in both form and photo. If the applicant is not individually, then the authorized person will sign this.
- Now, signed form with the photo in the envelope, demand draft, then by entering the proof of existing PAN, ID proof, address proof, birth date etc., write the above mentioned instructional number and ‘Application for PAN cancellation’. The envelope is ready. It is now NSDL e-Gov at ‘Income Tax PAN Services Unit, NSDL e-Governance Infrastructure Limited, 5th Floor, Mantri Sterling, Plot No. 341, Survey No. Send to 997/8, Model Colony, Near Deep Bungalow Chowk, Pune – 411 016.
It is important that this envelope of your NSDL should be received within 15 days of submitting the online form.
It is possible that the Income Tax Officer should inquire about the surrendered pans. Since you will definitely have a chance to keep your word, you should make good preparation to prove that you did not create more than one pan with the wrong intention. The officer may not immediately cancel your pan. They can scrutinize until a satisfactory response is received. Just filling out the online form does not guarantee to get pan surrender. You may have to meet your assessing officer so that you can reassure them that you do not intentionally create more than one pan.
Note – Please note that the above article is part of our continuous research on the related matters. It is based on our interpretation of related regulations which may differ person to person. Readers are expected to take expert opinion before relying on above.