Several PAN cards can cause confusion, as well as legal problems. While it is against the law to obtain more than one PAN card in India, some people may mistakenly receive several PAN cards for a variety of reasons, including typographical errors, name changes, or just forgetting their prior PAN card number.
In these situations, it's crucial to give up the other PAN cards and keep only one functional PAN card.
This article will go over simple procedures for returning numerous PAN cards while avoiding any possible legal repercussions.
recognising the significance of returning multiple PAN cards
Possessing several PAN cards can result in a number of problems, including:
- Confusing tax return filing and refund procedures
- Penalties and legal issues
- difficulty acquiring loans or creating bank accounts
- Duplicate PAN numbers could result in fraud or identity theft.
- In order to avoid any potential legal repercussions, it is crucial to return additional PAN cards and keep only one active PAN card.
recognising several PAN cards
One must include all PAN cards in their name before relinquishing additional PAN cards.
Here are a few techniques for recognising duplicate PAN cards:
- Check Income Tax Returns: To find all PAN cards used for filing returns, look up past income tax filings.
- Check Credit Reports: To identify all PAN cards used for credit transactions, check credit reports from all credit bureaus.
- Examine Bank Accounts: Examine each bank account to find any PAN cards that were utilised in any transactions.
- Check PAN card status: Visit the Income Tax e-filing website to view the status of all PAN cards issued in your name.
How to give up several PAN cards
Once you have located several PAN cards, simply follow these simple instructions to return them:
Fill out the PAN Card Surrender Application Form as the first step.
The PAN Card Surrender Application Form, which may be accessed from the official website of NSDL or UTI, must first be filled out. Provide all necessary information, including your name, address, current PAN card number, and the PAN cards that need to be returned.
Step 2: Sending in the application
Send the completed application form to the nearby NSDL or UTI office along with any necessary supporting documentation, such as a copy of the most recent PAN card, a proof of identity, and a proof of address.
Step 3: Monitor the application's progress.
The acknowledgment number supplied on the application form can be used to check the status of the application online once it has been submitted.
Wait for affirmation in step four.
The Income Tax Department will deactivate the other PAN cards and keep only the present PAN card upon satisfactory verification. A letter of confirmation will be delivered to the address provided on the application.
Conclusion
Finally, giving up numerous PAN cards is a crucial step to maintain legal compliance and hassle-free financial transactions. To keep only one legitimate PAN card, it's critical to identify all PAN cards issued in your name and surrender the extra ones.
You can easily surrender numerous PAN cards by following the simple steps listed above. Keep in mind that having numerous PAN cards is prohibited and can have serious repercussions.
In order to avoid any potential legal or financial complications, it is advised to surrender any additional PAN cards as soon as possible.
Go to the FAQs section if you have any additional questions on relinquishing multiple PAN cards. It addresses the most typical queries on the subject.
Finally, returning numerous PAN cards is a simple procedure that may be finished in a few quick steps.
By doing these actions, you may make sure that you only have one PAN card that is currently valid and prevent any legal or financial problems.
Questions and Answers (FAQs)
Can I revoke more than one PAN card online?
A: Several PAN cards cannot be surrendered electronically. The PAN Card Surrender Application Form must be physically delivered to the nearby NSDL or UTI office.
Is the surrender of numerous PAN cards required?
A: As having more than one PAN card is against the law, numerous PAN cards must be surrendered.
If I have more than two PAN cards, may I surrender just one of them?
A: Depending on your preferences, you may surrender any additional PAN cards.
How soon may additional PAN cards be deactivated?
A: Following the submission of the application form, it typically takes 10-15 days to deactivate additional PAN cards.
What are the repercussions of having several PAN cards?
A: Having several PAN cards might result in legal problems, complications when submitting tax returns, difficulties getting loans, identity theft, and fraud.
