{"id":9171,"date":"2020-02-26T18:38:13","date_gmt":"2020-02-26T13:08:13","guid":{"rendered":"https:\/\/swaritadvisors.com\/learning\/?p=9171"},"modified":"2020-10-06T12:41:36","modified_gmt":"2020-10-06T07:11:36","slug":"penalty-of-inr-10000-or-surrender-multiple-pan-cards","status":"publish","type":"post","link":"https:\/\/swaritadvisors.com\/learning\/penalty-of-inr-10000-or-surrender-multiple-pan-cards\/","title":{"rendered":"Penalty of INR 10,000 or surrender multiple PAN cards. Choice is yours!"},"content":{"rendered":"\n<p class=\"has-drop-cap\"><strong>Section 139A of Income Tax Act<\/strong>, 1961 mandates a person to possess only one Permanent Account Number or PAN. If any individual has two or more PAN cards, then Income Tax Officer shall levy a penalty of <strong>INR 10,000<\/strong>, as prescribed under Section 272B. Several reasons lead to the generation of multiple PAN Cards. However, it is illegal to hold two PAN Cards, so surrender the surplus copy with the Government. <\/p>\n\n\n\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_65 counter-hierarchy ez-toc-counter ez-toc-light-blue ez-toc-container-direction\">\n<p class=\"ez-toc-title\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a3a35d1db913\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a3a35d1db913\"  aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/swaritadvisors.com\/learning\/penalty-of-inr-10000-or-surrender-multiple-pan-cards\/#Possible_reasons_for_having_multiple_PAN_cards\" title=\"Possible reasons for\nhaving multiple PAN cards&nbsp; \">Possible reasons for\nhaving multiple PAN cards&nbsp; <\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/swaritadvisors.com\/learning\/penalty-of-inr-10000-or-surrender-multiple-pan-cards\/#Offline_procedure_to_surrender_multiple_Permanent_Account_Card_Cards\" title=\"Offline procedure to surrender multiple Permanent Account Card Cards \">Offline procedure to surrender multiple Permanent Account Card Cards <\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/swaritadvisors.com\/learning\/penalty-of-inr-10000-or-surrender-multiple-pan-cards\/#How_to_surrender_Multiple_Permanent_Account_Number_Cards_online\" title=\"How to surrender Multiple Permanent Account Number Cards online? \">How to surrender Multiple Permanent Account Number Cards online? <\/a><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Possible_reasons_for_having_multiple_PAN_cards\"><\/span>Possible reasons for\nhaving multiple PAN cards&nbsp; <span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p><strong>Some reasons that lure people to attain more than one PAN are as follows: <\/strong><\/p>\n\n\n\n<ul><li>It frequently happens with the Non-Resident Indians who apply for another PAN card in their name once they revisit the country after many years.<\/li><li>The PAN holders who got some errors in their first card may also apply for another PAN card without surrendering the previous one.<\/li><li>Often, people have <strong>additional PAN cards<\/strong> to evade taxes.&nbsp;<\/li><li>When people <strong><a href=\"https:\/\/swaritadvisors.com\/learning\/government-enables-instant-e-pan-card-facility\/\">apply for PAN<\/a><\/strong> various times for not receiving the card within the stipulated time, in such a case, they end up having multiple  cards.&nbsp;&nbsp;<\/li><\/ul>\n\n\n\n<p><div class=\"shadow6\">To\nsafeguard yourself from the risk of getting penalized, you must surrender the\nadditional PAN card through offline and online mode. <\/div><\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Offline_procedure_to_surrender_multiple_Permanent_Account_Card_Cards\"><\/span>Offline procedure to surrender multiple Permanent Account Card Cards <span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>In the offline mode, you need to write a letter to<strong> Income Tax Assessing<\/strong> Officer under the concerned jurisdiction. Attach the details of PAN cards, the one which you wish to surrender and the other that you want to retain. Post the letter to the <strong>Income Tax office under your jurisdiction<\/strong>. Therefore, keep a copy of the Acknowledgement receipt which confirms that Income Tax Department has received your letter.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"How_to_surrender_Multiple_Permanent_Account_Number_Cards_online\"><\/span>How to surrender Multiple Permanent Account Number Cards online? <span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>&nbsp;The online procedure is way more simplistic than the offline process. The users just have to visit the official website of <strong>Income Tax Department<\/strong> <a href=\"https:\/\/www.incometaxindia.gov.in\/Pages\/default.aspx\">[1]<\/a>  and click under the section of \u2018Surrender Duplicate PAN.\u2019 Therefore, file all the necessary details of duplicate (multiple) PAN cards that you want to surrender and the other <strong>PAN card<\/strong> which you wish to retain. After submitting the e-form, you will be directed to further process.<\/p>\n\n\n\n<p><div class=\"shadow4\">As prevention is better than cure; therefore, it is prudent\nto abandon the duplicate (multiple) PAN by using either online or offline\nsurrender mode.<\/div><\/p>\n\n\n\n<div class=\"read\"><p><b>Read, Also:<\/b> <mark><a href=\"https:\/\/swaritadvisors.com\/learning\/link-your-pan-with-aadhaar-card-else-pay-a-fine\/\">Link your PAN with Aadhaar Card, else pay a fine of INR 10,000<\/a><\/mark>.<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Section 139A of Income Tax Act, 1961 mandates a person to possess only one Permanent Account Number or PAN. If any individual has two or more PAN cards, then Income Tax Officer shall levy a penalty of INR 10,000, as prescribed under Section 272B. Several reasons lead to the generation of multiple PAN Cards. However, [&hellip;]<\/p>\n","protected":false},"author":10,"featured_media":9172,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[1],"tags":[],"_links":{"self":[{"href":"https:\/\/swaritadvisors.com\/learning\/wp-json\/wp\/v2\/posts\/9171"}],"collection":[{"href":"https:\/\/swaritadvisors.com\/learning\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/swaritadvisors.com\/learning\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/swaritadvisors.com\/learning\/wp-json\/wp\/v2\/users\/10"}],"replies":[{"embeddable":true,"href":"https:\/\/swaritadvisors.com\/learning\/wp-json\/wp\/v2\/comments?post=9171"}],"version-history":[{"count":9,"href":"https:\/\/swaritadvisors.com\/learning\/wp-json\/wp\/v2\/posts\/9171\/revisions"}],"predecessor-version":[{"id":13665,"href":"https:\/\/swaritadvisors.com\/learning\/wp-json\/wp\/v2\/posts\/9171\/revisions\/13665"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/swaritadvisors.com\/learning\/wp-json\/wp\/v2\/media\/9172"}],"wp:attachment":[{"href":"https:\/\/swaritadvisors.com\/learning\/wp-json\/wp\/v2\/media?parent=9171"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/swaritadvisors.com\/learning\/wp-json\/wp\/v2\/categories?post=9171"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/swaritadvisors.com\/learning\/wp-json\/wp\/v2\/tags?post=9171"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}