Anybody who has lost a loved one can relate to how tough it is to cope with the paperwork and legalities that follow.
Giving your PAN card to the Income Tax Department is one of the things you need to do once someone passes away.
We'll go over the simple procedures to take in order to surrender a PAN card due to death in this article.
Describe the PAN card
Let's first define a PAN card before we proceed with the process of surrendering it due to death.
A PAN card, or Permanent Account Number card, is a special 10-digit alphanumeric identifying number given to people and companies by the Income Revenue Department of India.
It is employed in a number of financial operations, including opening bank accounts, purchasing or selling real estate, and submitting income tax returns.
Why give up a PAN card after passing away?
A person's PAN card expires upon death, and they must turn it in to the Income Tax Department.
This is crucial because if the PAN card is still in use, it could be used fraudulently to open a bank account or file a tax return in the name of the deceased.
How to give up a PAN card after a death
Now that we know why it's important to surrender a PAN card after death, let's go over the procedures to do it:
Get a death certificate as the first step.
To surrender a PAN card due to death, the first step is to get a death certificate from the municipal office or the local register of births and deaths.
Step 2: Compile the necessary paperwork
After obtaining the death certificate, you must assemble the following papers:
- original death certificate PAN card
- the death certificate copy
- PAN card copy for the nominee (if applicable)
- a copy of the PAN card for the legal heir (if applicable)
- Statement of the legal heir's link to the deceased in an affidavit
- Identification and contact information for the legal heir
Step 3: Complete the release form.
The PAN card surrender form, which can be downloaded from the Income Tax Department's website or obtained from your neighbourhood Income Tax office, must then be filled out.
Step 4: Hand in the paperwork
You can turn in the surrender form and all other supporting documentation to the neighbourhood income tax office once you've completed them. On the website of the Income Tax Department, you may also submit the documents electronically.
Step 5: Get confirmation
You will receive a confirmation of the PAN card surrender from the Income Tax Department after submitting the required paperwork.
Conclusion
Giving up a PAN card after a death may seem like a difficult undertaking, but it's essential to stop anyone from engaging in fraud in the deceased person's identity. The process will move quickly and effectively if you adhere to the simple instructions mentioned above.
FAQs
Is it required to return a PAN card after passing away?
Absolutely, in order to stop fraud in the deceased person's name, a PAN card must be returned after death.
Who may return a PAN card after passing away?
After death, the deceased person's PAN card may be given to their legal heir or designate.
Can I return a PAN card electronically?
Yes, you can cancel a PAN card online using the website of the Income Tax Department.
Is there a deadline for returning a PAN card after passing away?
Although there is no set period of time in which a PAN card must be returned after death, it is recommended that you do it right away.
What occurs if a PAN card is not returned following death?
If a PAN card is not returned after death, it may be used fraudulently, which could put the deceased person's family in legal and financial trouble. To prevent any issues, it's crucial to return the PAN card as soon as possible once the deceased person passes away.
