In today’s time, PAN card has become a very important document. This card is issued by the Income Tax Department. Many of our important information is recorded in the 10 digit number mentioned in the PAN card.
With the help of this card, the government can easily track financial activity and tax evasion. In today’s time, PAN card is demanded in many important places ranging from investment in mutual funds, stock market, financial transactions. If you have PAN card. In such a situation, this news is especially for you.
Today we are going to tell you about such a mistake related to PAN card, by doing which you may have to face a big loss. You may even have to pay a heavy fine. In this episode, let us know about that mistake in detail –
Duplicate pan card penalty
- If you have two PAN cards. In such a situation, you may have to face many problems.
- If you keep two PAN cards with you.
- In this situation, you may have to pay a fine of Rs 10,000.
- In such a situation, you should surrender your PAN card immediately.
- If you do not surrender your PAN card. In this situation your pan may freeze.
- A provision has also been made for this in section 272B of the Income Tax Act, 1961.
- If you do not do this, you may have to face many problems in future.
How to surrender pan card
- To surrender PAN card, you have to download the common form by visiting the Income Tax website and fill it.
- After this, you have to fill the form and attach it with another PAN card and submit it to the NSDL office.
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