NARESH KUMAR (NO) 26 January 2020
A person cannot hold more than one PAN. In case one applies for the PAN card but it gets delayed, the indiviudal re-applies and ends up receiving two PAN cards with different numebrs. A penalty of Rs. 10,000 is liable to be imposed under section 272B of the Income Tax Act, 1961 for having more than one PAN.
How to Apply for the Surrender of Additional PAN?
Whatever may be the reason, person should not have more than one PAN numbers. Under the Income Tax Act, penalty for having more than one PAN is Rs 10000, if you have two PAN, then you should apply for the surrender of additional PAN. You can apply for surrender of PAN Offline and online both. Here is the detailed procedure to apply for surrender of PAN. However no penalty if you surrender voluntarily.
Step 1: Fill and submit PAN Change Request application form by mentioning the PAN which you are using currently on top of the form. All other PAN/s inadvertently allotted to you should be mentioned in item no. 11 of the form and the corresponding PAN card copy/s should be submitted for cancellation along with the form.
Step 1 Fill up Form 49A for Change or Correction in PAN, mention the PAN number to be surrendered and submit the form to the nearest UTI or NSDL TIN facilitation centre. Save a copy of Acknowledgment for future reference
Step 2 – Write a letter addressed to the Assessing Officer of your jurisdiction. Mention your personal details such as the full name on your PAN card, date of birth (or date of incorporation in case of companies or firms), PAN card number to be retained and details of duplicate PAN card being surrendered and keep the acknowledgement received. You may be required to visit Assessing officer in order to speed up the process.
Step 3 – At the time of submission of Letter mentioned in Point 2 above, also enclose a copy of Duplicate PAN to be surrendered along with Acknowledgment Copy obtained from NSDL TIN facilitation center as obtained in point 1 mentioned above.