Tuesday, March 19, 2019

How to Surrender PAN Card?

Indian citizens who are inadvertently issued with a duplicate or multiple PAN card due to administrative error or by applying multiple times and receiving a PAN card each time will need to surrender the duplicate or multiple PAN card. If the multiple PAN card(s) or duplicate PAN is not surrendered, it could result in a hefty fine or even jail.

Let us have a look at the process of how to surrender PAN card in this article.

Surrendering PAN Card

There are two ways to surrender PAN card you can do it online or offline.

Option 1 – Offline Method

1.You need to write a letter to the Assessing Office from the Income Tax office in your jurisdiction. Make sure you write your full name as mentioned on the PAN card, DOB or Date of Incorporation, PAN card number that needs to be retained as well as the details of the duplicate PAN card that needs to be surrendered.

2.You can post or hand over the letter to the nearest tax office in your jurisdiction. Make sure you get an acknowledgement receipt. The acknowledgement will serve as a proof that you have applied for surrendering or cancellation of multiple PAN cards.

3.You can also fill up Form 49 for Change or Correction in PAN and submit it to the nearest UTI or NSDL TIN facilitation center.

Option 2 – Online Method

1.You need to visit the Income Tax Department website and click on ‘Surrender Duplicate PAN’

2.Enter all the details of the duplicate PAN number(s) and the PAN number you wish to retain. Fill all the other details required.

3.Submit the form and follow the further procedure as directed.

Surrendering PAN Card Due to Death of Holder

In case of demise of PAN card holder, the relatives need to send a letter to the Income Tax Officer of the jurisdiction. The letter needs to mention the reason for surrender as demise of the holder along with the copy of the deceased’s death certificate. Mention the PAN number, name, and date of birth.

Surrender of Firm/ Partnership/ Company PAN Card

In case a firm/ partnership/ company has dissolved or shut down, then they can surrender the PAN by filling form 49A online. Enter the PAN card number in item No.11 of the form. Submit the form and print the acknowledgement receipt. Send this receipt along with the required documents to the NSDL office.

Similarly, you can surrender the card offline as well. You need to write to the Income Tax Officer under whose jurisdiction the firm/ company taxes were filed. Mention that the company has dissolved or shut down. Attach a copy of the deed that states the company is dissolved, the PAN card as well as the copy of the acknowledgment of the return being filed for the discontinuation period. Submit the letter and documents to the Income Tax Officer. Make sure you keep the copy of the acknowledgement received from the Income Tax office.

This is how to cancel PAN card. You cannot hold more than one PAN card as it is illegal. Make sure you surrender PAN card that are allotted to your by mistake.



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