What happens if you have 2 PAN Cards with Different Number: All Indian citizens must possess a Permanent Account Number or Permanent Account Number (PAN) card. This number is used as identity proof and proof of residence. In order to file the income tax return in India, you need to have your PAN card. For individuals and companies, the identity proof is ‘PAN’ (permanent account number). The Income Tax Department uses the PAN number to search and verify the taxpayer’s status and identity.
What happens if I have 2 PAN Cards?
The PAN card ‘number’ is a 10-digit unique number. It serves as identity proof and is mandatory for filing income tax returns with Income Tax Department. But every person should possess only one PAN number and it’s illegal for a person or company to have more than one PAN Number. If you have 2 PAN Cards with Different Number made mistakenly then you have to surrender one. Otherwise, Income Tax Department can take legal action or put a financial penalty if caught.
What is the penalty for 2 PAN Cards with Different Number?
The government has made it mandatory for all individuals to have a PAN not 2 PAN Cards with Different Number same Name and Aadhaar. Under the Income Tax Act, anyone who owns more than one PAN is fined Rs10,000. This fine is meant to be a deterrent against holding multiple PANs. There are strict regulations regarding owning multiple PANs with the government imposing a fine of Rs 10,000 on anyone who owns duplicate PANs. This fine is imposed under Section 272B of the Income Tax Act and is meant to be a deterrent against holding multiple PANs.
How can I check multiple PAN Numbers?
Check that there 2 PAN Cards with Different Number in your Name. It is much important to check everyone to ensure that. It is a very easy process to check that.
2 PAN Cards with Different Number Check Process
Step 1: Visit the E-filing Portal
Step 2: Click on ‘Verify Your PAN‘from the left Side Section.
Step 3: Enter the PAN, Full Name (As per PAN), Date of Birth, and Choose the ‘Status’ as applicable.
Step 4: Enter the Captcha as in the image and click on ‘Submit’ to verify your PAN details.
How to cancel Oen if you have 2 PAN Cards with Different Number?
Your PAN card can be surrendered online by NSDL or UTIITSL website and by filling out PAN Correction Form. The PAN card can be surrendered online by visiting the PAN website or filling out PAN Correction Form. You will be able to find the form easily. Mention PAN 1 box, and proceed with filling the form online.
Disadvantages of 2 PAN Cards with Different Number
Follow the Steps for Surrender Multiple PAN Cards
Step 1: Visit the official NSDL or UTIITSL web portal.
Step 2: Select Application Type. From the drop-down menu, click on the Changes or Correction in existing PAN Data/ Reprint of PAN Card (No changes in existing PAN Data) option.
Step 3: For Category, select the option of INDIVIDUAL for self or Company, Firm or Partnership and proceed with filling the Form online.
Step 4: In Form 49A, enter the PAN that has to be canceled in Item No 11 of the Form.
Step 5: Submit the completed Form and print out the acknowledgment. The user is required to send the same along with the necessary documents to the NSDL or UTIITSL Office Address mentioned on the Form.
Step 6: Once the request has been processed, the user would receive a notification indicating the same.
Q. Can I change my PAN number?
No, you cannot change your PAN Card Number.
Q. Can I change my PAN card photo?
Yes, you can change the photo on your PAN card. Fill in the Changes or Correction in the existing PAN Form Online.
Q. Is ePAN valid without a signature?
e-PAN is a digitally signed PAN card issued in electronic format by the I-T department.
Yes, If you have not linked then there have a chance to link it till March 31, 2023
What happens if I have 2 PAN Cards
Under Section 272B of the Income Tax Act, 196, A fine of Rs 10,000 will be imposed for holding multiple PAN