PAN Card: Penalty may have to be paid for keeping more than one PAN card, duplicate pan can surrender

PAN Card: Penalty may have to be paid for keeping more than one PAN card, duplicate pan can surrender Tezzbuzz | 27/02/2025 14:24:19

New Delhi: The government has launched the PAN 2.0 scheme to improve all services to PAN (Permanent Account Number) through advanced e-governance. Through PAN 2.0, the government wants to completely eliminate duplicate pan. Now the question is, can a person keep more than one PAN card? According to the Income Tax Act-1961, no person can keep more than one PAN card. If more than one PAN cards are found in the name of a person, then it will have to be canceled by handing over the tax officer with jurisdiction.

But, there will be some people who will have more than one PAN card, now they must be wondering what will happen if not doing so. So know that for keeping more than one PAN card, tax officer can impose a fine of up to Rs 10,000 under Section 272B of the Income Tax Act.

Improving service for taxpayers PAN 2.O a purpose

According to government data, a total of 78 crore PANs have been released so far. Of these, 98 percent of PAN cards are with individual taxpayers. The PAN 2.0 scheme will also strengthen the digital infrastructure of the Income Tax Department. It is worth noting that with a budget of Rs 1,435 crore, PAN 2.0 initiative of the Central Board of Direct Taxes (CBDT) will modernize all the platforms and portals providing PAN/Tan services and will keep them with a system. The main goal of this scheme is to simplify PAN/Tan application and management, reducing the time taken in processing, digital access to taxpayers and improving services and increasing data safety.

How can duplicate pan surrender?

Go to the website of NSDL and fill the 'existing PAN data change/correction/PAN card reprint' form.
After filling all the necessary information, verify correctly.
Click on the left located box in the contact details section.
Fill the details of the PAN number you want to surrender.
Pay the fee along with auxiliary documents and submit the complete form

Offline method

For change/improvement in PAN, fill Form-49A and submit it to the nearest PAN service center.
Explain the PAN number to be surrendered clearly.
Send a written request letter to the alternatively jurisdictional evaluation officer.
Provide personal details. Also, give PAN number, which has to be surrendered.

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Effect of having more than one PAN card

Keeping several PAN cards negatively affects your credit profile. When you apply for a loan, there is an important document that the bank verifies is your PAN card. If you have two PANs, then along with the loan, your credit card application can also be rejected.