A person is having two PAN card with same name , however, the name of father and birth date and address is different in both the pan. The first pan card was issued long back around 1993 but at that time pan number came not the pan card and income tax return is filed from that period and currently it is filed till A.Y. 2013-14 manually i.e. for almost 20 years. The second pan card was issued in January' 2013. TDS is deducted in the new pan card from A.Y. 2014-15 u/s 194J and return is to be filed fresh for A.Y 2014-15.Prior to that no case of any transaction or tds is seen in the new pan card . There was no TDS in old pan card prior to A.Y. 2013-14. An unsecured loan was given in P.Y. 2013-14 in the old pan card to a partnership firm so TDS is deducted in the old pan u/s 194A in the A.Y. 2014-15. TDS for the A.Y. 2015-16 on the unsecured loan is now correctly deducted in the new pan card. Now the case is that the details of the pan in the old pan card is wrong and the Assessee wants to surrender the old pan and continue with filing return in the new pan card from A.Y. 2014-15.
Please suggest whether there will be any complication or any issue arising thereof. And what procedure according to your opinion should be followed.
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