Pan surrender case

Simple Penalty of Rs.10000/- You Have To Pay Using More Than One PAN Card. Surrender Your Old PAN Card Along With The Mentioned All The Facts And Contact The Concered ITO For Any Further Procedure.

Sir,

Thank you for your reply. But I do not find any reason for imposing penalty of Rs. 10,000/- because I am not doing any fraud by using two Pan card simultaneously. It was inadvertendly alloted to me. 

The government requires all holders of duplicate permanent account number to surrender their duplicate cards failing which they have to face legal notice and shall be liable to a penalty of Rs 10,000. It is illegal to have two PAN cards at the time.

The government has the power to impose penalty of Rs. 10,000 and cancel the card. The multiple card holders are under the obligation to get their additional cards cancelled.

It is necessary to retain only one PAN, that one which is normally used for Income Tax purpose and to surrender the other one immediately. The places where the extra PAN number has been given need to be informed about the correct one.

in Jan 2013 new PAN is issued and at that time the assessee did not surrenedered the old PAN card but used the same to offer a loan to a partnership firm, having  well in knowledge that he owns a new pan card, ( this would be the ground of department)

ask the partnership firm to revise their TDS return with new pan number since start (as on the date of offerin loan NEW PAS was available with the assesse) , and surrrender the old pan immediately. 

Thank you Sir,

But let me clear out that the new pan card was inadvertendly applied as the income tax file was managed by the CA and the clients son had no knowledge about it. SO, he issued a new pan card.

But, the partnership firm is ready to revise the tds return and the old pan card will be surrendered. But I want to know that is there any problem in following this procedure.

Originally posted by : Vivek Harlalka
	Thank you Sir,   But let me clear out that the new pan card was inadvertendly applied as the income tax file was managed by the CA and the clients son had no knowledge about it. SO, he issued a new pan card. But, the partnership firm is ready to revise the tds return and the old pan card will be surrendered. But I want to know that is there any problem in following this procedure.

without the signature , documents and photograph of the assesee any pan card can not be issued, so the assesee is well aware of the fact that he already own a pan card, there may be mistakes  or errors which can be rectified in same PAN number, but he made another, which is melafide intetion in the eyes of department. 

everybody in the forum would suggesxt you to surender the duplicate immediately, beforehand the department trace it out, as if the department would trace then the assesee can not skip the Rs 10000/ panel penalty. 

Hi All,

Ignorance of law is no excuse.The law imposes that certain things should not be done- assessee needs to follow no matter what or be ready for the penalty. 

It is better to voluntarily surrender rather than waiting for department to take an action- The guys at the department are also humans, they can understand the problems.

Regards,

CA Hariprasad Nayak

Yes, I can indeed understand the fact and that is the reason why I am willingly surrendering the pan which will not be required by me before the same is traced by the Department. So, I don't think that the penalty of Rs. 10,000/- for holding more than 1 Pan card will be levied.