Heavy Penalties Await PAN Card Holders: Numerous essential documents are issued to the population. These documents are useful for a variety of purposes. In addition, the PAN card is included in these documents throughout the country. With a PAN card, financial transactions can be conducted in the country. In addition, the government uses the information obtained from PAN details to determine the tax liability of individuals. However, it is also necessary to take care of a number of essential PAN card-related matters; otherwise, a fine may be imposed.
Heavy Penalties Await PAN Card Holders: PAN card
In fact, individuals should remember that the law prohibits anyone in the country from possessing duplicate or multiple PAN cards. In such a scenario, a person who possesses multiple or duplicate PAN cards may encounter significant difficulties.
Duplicate PAN Card
Whoever possesses multiple or duplicate PAN cards can get into serious difficulty. In actuality, PAN cards are frequently issued twice due to double applications. In this circumstance, individuals should avoid this situation. If apprehended, individuals may encounter a number of obstacles. Some individuals may have received their ID card from the IT department, while others received theirs from agencies to which the work was outsourced.
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Heavy Penalties Await PAN Card Holders: Looks excellent
In such a circumstance, individuals must cancel one of their PAN cards. Some individuals may register for multiple PANs in an attempt to deceive the government or save money. These are serious violations that will result in penalties. There are rigorous regulations regarding the possession of multiple PANs, with the government imposing a Rs 10,000 fine on anyone with duplicate PANs. This penalty has been assessed pursuant to section 272B of the Internal Revenue Code.
If a person possesses multiple PAN cards, he or she must surrender all but the original. Multiple PAN cards can be obtained both online and offline.
- Log in to www.onlineservices.nsdl.com, the NSDL website. Choose “Changes or Correction in Existing PAN Data/Reprint of PAN Card (No changes to Existing PAN Data)” from the “Application Type” drop-down menu.
- Complete the form, then select ‘Submit’. Notate the token number provided after registration.
- Select the option “Continue with PAN application form” Upload the required scanned images.
- Pay with a demand draught, credit card, debit card, or internet banking.
- Indicate which PANs you wish to retain and which you wish to surrender.
- Choose the identity and address verification documents you wish to submit.
- Acquire the downloadable receipt as future reference and evidence of payment.
- The acknowledgment must be sent to NSDL e-Gov along with two images.
- One may also submit Form 49A for Change or Correction in PAN to the nearest UTI or NSDL TIN facilitation centre. Mention your personal information, such as your PAN card name, date of birth, and PAN card numbers.
