Pan card: Due to the poor credit history of Sushil Pathak of Delhi, the bank refused to give him a home loan. To avoid this, he planned to make a new PAN card, so that he can apply for a loan by creating a new identity. It was a fraud and wrong way to eradicate his old credit history. Millions of people in India are involved in such fraud, due to which income tax and other agencies are registering cases against them.
Two PAN cards are made intentionally and unknowingly
Many people deliberately make additional PAN cards so that they can save tax by dividing their income. Or do financial transactions based on wrong documents. Some people think that the new PAN card can save them from the history of old bad loans or credit card defaults.
Many times people inadvertently get double PAN cards. For example
When losing the PAN card, they apply new, while they should apply for a duplicate card.
On changing the name after the marriage of women, they get a new card instead of updating the old PAN.
When NRI means non -resident Indians come to work in India for the first time, then they make PAN. On returning after many years, they forget that they already have PAN and apply new.
The impact of the government’s strictness and the linking from the Aadhaar
While applying the PAN card, information like name, mobile number, date of birth, address and father’s name is sought. Often people change these information and make fake PAN cards. However, after making PAN linking mandatory from Aadhaar, it has become easy to catch such fraud now.
Keeping more than one PAN card is fined Rs 10,000?
Under Section 139A of the Income Tax Act 1961, a person can keep only one PAN card. If a person has more than one PAN card, a fine of up to Rs 10,000 can be imposed under Section 272B.
However, if someone proves that he inadvertently built another PAN, then a fine cannot be imposed. Assessing Officer (AO) take a final decision on this.
How to surrender or cancell?
If someone has more than one PAN card, then it should be surrendered as soon as possible. There are both online and offline options for this.
1. online method: Go to the NSDL website and fill the ‘Pan change request’ form.
Enter the PAN number you want to keep and list the rest to cancel.
Attach the additional PAN card copy with the form and submit online.
2. Offline method
Download and print Form 49A from NSDL website.
In this form, fill the PAN number which is to be kept and inform the additional PAN.
Submit the filled form to the nearest UTI or NSDL TIN center.
Keep a receipt and also request to cancel the PAN by writing a letter to the Assessing Officer of your area.
PAN can be investigated even after surrendering
The additional PAN is not canceled only by completing online or offline process. Many times a person has to go to his regional assessing officer and make it clear that the second PAN card was taken inadvertently.
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