PAN Card Surrender: Used as financial identification in India pan Card is a mandatory document for every citizen. But the law takes strict action against its misuse or possession of more than one PAN card. Recently, the Rampur court has convicted SP leader Azam Khan and his son Abdullah Azam in the case of possessing two PAN cards and has imposed seven years’ imprisonment and a fine of Rs 50,000 each. This matter has become a big lesson for the common people also.

Holding two PAN cards is a legal offense

In India, PAN i.e. Permanent Account Number is the unique financial identity of an individual. As per the rules, any citizen is allowed to have only one PAN card in his lifetime. If someone intentionally or accidentally makes another PAN, then it is considered a violation of Section 272B of the Income Tax Act. This leads to tampering in tax records and the Income Tax Department views it as a serious crime.

What is the fine and punishment for duplicate PAN?

According to reports, a fine of up to Rs 10,000 can be imposed for having two PAN cards. In some cases, if the charges of fraud, tax evasion or giving wrong information are proved, there can be a jail sentence. The verdict on Azam Khan and his son shows the seriousness of this crime. The Income Tax Department takes a strict stance to maintain financial transparency in such matters.

How to get two PAN cards?

Many times people unknowingly make two PAN cards, like:

• If you lose PAN, make a fresh application again.
• Getting a new PAN due to change in name or address
• Forgetting old PAN number
• Issuance of duplicate card due to mistake in agent, data entry or application process

In such a situation, it is necessary to surrender the additional PAN immediately.

Dangers of having two PAN cards

If a person has two PAN cards, he may suffer several disadvantages:

• Tax filing error
• Incorrect tax calculation due to transactions being recorded on different PANs
• Danger of investigation by Income Tax Department
• tax refund freeze
• Suspicious activity in banking and financial transactions is considered
• Problems in loan approval and investment processes
• Therefore having two PAN cards poses serious legal risks.

How to surrender duplicate PAN card?

The process to surrender additional PAN is very simple:

• Fill Form 49A and indicate which PAN to keep active.
• It can be submitted online at NSDL or UTIITSL website.
• The form can also be submitted by visiting the nearest PAN service centre.
• The process is completed when the PAN copy and cover letter are attached.
• The receipt from the Income Tax Department is proof that your additional PAN has been cancelled.