PAN card | Penalties must be paid to the Income Tax Department for errors in the PAN card case. A fine of Rs 10,000 will be levied for this mistake. If that goes wrong, learn how to fix it.
1. PAN Card … This Permanent Account Number -PAN is an important document for financial transactions. Not only that … PAN number is mandatory for filing income tax returns. The entire history of their financial transactions is known with one’s PAN number. (Symbolic image)
2. All you have to do is have a PAN number, which bank accounts you have, how many credit cards you have, how many loans you have taken, what types of loans you have taken out, how many loans you have repaid in full, what big transactions you have made … This is how the entire government logs the financial transactions easily.
3. Therefore, if you make any mistakes in the case of PAN card, the cats will not be wrong. Heavy fines will also have to be paid. If you make a mistake you will have to pay a fine of Rs 10,000. And if you make that mistake, find out what precautions you can take to avoid making that mistake.
4. There are many who have taken PAN cards twice. In the past this was possible. However, those who want to commit financial frauds are more likely to take two PAN cards. There are also cases where one PAN card is lost and another card is applied for.
5. If you lose your PAN card, you do not need to apply for a new PAN card again. All you have to do is take a duplicate PAN card. The duplicate PAN card comes with the same old number. Legal action is not wrong if two PAN cards are maintained. According to the Income Tax Act, 1961, a fine of Rs 10,000 is payable for maintaining two PAN cards.
6. So if you have two PAN cards by mistake you have to surrender one card to the Income Tax Department. The card must be surrendered as soon as possible before legal action can be taken against you. Learn how to surrender your two PAN cards.
7. First open the NSDL website. In the Application Type drop down, select the Changes or Correction in existing PAN Data / Reprint of PAN Card option. Enter all the details and click on Submit.
8. The token number will be generated after submitting the form. That token number comes to your email id. Then click on the Continue with PAN Application Form button. After that a new page will open.
9. The scanned images should be submitted by e-sign. Then you need to explain the PAN number you want to have. You will then need to enter your personal details and contact details.
10. On the last page you have to enter the additional PAN number you want to surrender. After that you have to submit your identity proof.
You will need to upload your photo, signature, and other documents.
