Having multiple PAN Cards can lead an individual to pay a hefty amount as a fine as well and can also result in him/her being jailed.
With the government making it mandatory to link Aadhaar with a PAN Card, individuals and business entities who have more than one PAN Card in their name have been compelled to cancel their additional PAN Cards.
As a result of this decision of the government, those who have more than one PAN Card in their name are looking at ways of getting rid of duplicate PANs and additional cards. So, what is the process that an individual needs to follow if he/she intend to cancel the duplicate/additional PAN Cards in their name? Read on to find out more about the topic.
A PAN Card can be cancelled by either of the two methods as listed below:
2. An assessee can also write a letter to the assessing officer of the concerned jurisdiction and list out all pertinent details as listed below:
1. Address of the assessee
2. Name of the assessee
3. Details of additional PAN Card which has to be surrendered
4. Specific details of the PAN Card which has to be retained
5.It is important to note that the assessee needs to have an acknowledgement copy of the letter. The acknowledge letter from the income tax department per se acts as proof that the additional PAN has been cancelled. In other words, the assessee does not have to contact the income tax department again for confirmation on cancellation of his duplicate or additional PAN.
After filling up the form and submitting it for the cancellation of PAN, the next process is to know whether the status of the request. Here, we look how an applicant can check the status of their request. This is can be done by following the below mentioned steps:
Step 1 - Visit the official website of Income tax e- filling
Step 2 - Select 'Know Your PAN/TAN/AO' under the tab of Quick Links.
Step 3 - Fill in the details asked for like name, date of birth, gender, and mobile number, and click 'Submit'
Step 4 - On doing so, an OTP is sent on the mobile number provided.
Step 5 - Enter the OTP and click 'Validate'
Step 6 - The status of the PAN Card that the applicant has in his/her name is displayed on the next screen.
It needs to be mentioned here if the applicant who wants to know the status of PAN has multiple cards in his/her name than they may be asked to provide additional information.
An assessee with more than one PAN Card has to surrender his or her additional PAN as holding more an additional PAN Card will attract a penalty of Rs.10,000.
An assessee may choose to cancel a PAN Card for the following reasons:
In case an assessee has been inadvertently allotted more than one PAN Card by the IT department of India, they can apply for a request to cancel the duplicate card. After satisfactory verification of the application by the Assessing Officer, the additional card would be cancelled.
If under some unavoidable circumstances an individual has to cancel their PAN Card, they can do it by following either of these two methods:
If an assessee wants to cancel the PAN in order to apply for a new one, they can do it by filling up a request form that has to be submitted along with a demand draft or cheque of Rs.96 (Rs.85 for the application + 12.36% Service Tax) in favour of 'Protean eGov Technologies Limited-PAN'. The demand drafts should be payable at Mumbai while applicants can drop their cheques (drawn on any bank) with any HDFC branch across India.
No, PAN Card contains a ten digit alphanumeric number that is valid across the country. If a citizen has to shift his base within India, there is no need for them to cancel their existing PAN Card.
There is no way to cancel existing PAN Card. Also, it is strongly advised not to cancel or surrender an existing PAN Card since it serves as a valid identity proof and is mandatory for any financial business and transactions. If, however, one wishes to cancel their existing PAN Card, they have to visit the Assessing Officer of their particular jurisdiction, and submit a letter requesting for the same.
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