These 4 mistakes made with PAN Card can prove costly, Income Tax will impose a fine of Rs 10,000

HR Mandi Bhav News (Bureau). Income Tax Department - PAN card is issued by the Income Tax Department which is a 10 digit alphanumeric ID. 

Your financial status can be known through PAN card. Therefore, everyone must have PAN i.e. Permanent Account Number. 

This card is also considered a main document. At the same time, if you have a PAN card and are using it, then you should have special knowledge about the rules related to it.

PAN card users should know this thing- 

Every PAN card holder should know which mistakes can cost them dearly and what they should avoid doing. If you also have a PAN card, then let us know due to which 4 mistakes you may have to pay a fine of up to Rs 10,000 to the Income Tax Department and when can the Income Tax Department take action against you?

When can I have to pay fine on PAN card?

If you are a PAN card holder then it is important for you to know that having more than one PAN card is a legal offence. If a person is found with two PAN cards, action can be taken against him. If the Income Tax Department takes action, a fine of Rs 10,000 can be imposed on the person. If you have two or more PAN cards, you may have to pay a fine of up to Rs 10,000.

Multiple applications for PAN card

It is possible that you may have only one card but in the eyes of the department, you are using two PAN cards. Such a situation occurs when an applicant applies for PAN card more than once. 

If you have applied for a PAN card and it has not reached you, after which you have applied for a PAN card again, then two PAN cards can be made in this way also.

There is a mistake in the PAN card.

If there is any mistake in your PAN card, like date of birth, name, address etc. are written wrongly and instead of correcting it, you have applied for another PAN card, then making such a mistake can also lead to a fine of up to Rs 10,000. Can be made.

New PAN card after marriage

After marriage, most women change their surname, after which they also change the PAN card. However, it is not right to do so. 

The department says that if your surname has changed or you want to make changes related to name, address, date of birth, then you can get correction done in the card. If you apply for a new card, you will have two PAN cards due to which action can be taken against you.

How to cancel or surrender PAN card?

To cancel or surrender PAN card, you can adopt both offline or online methods. If you want to adopt the offline method, then for this you will have to go to UTI or NSDL TIN Facilitation Center and fill Form 49A. Here you will have to fill your PAN card information and submit the form.

At the same time, if you want to surrender PAN card online, then for this you will have to go to the official website of NSDL https://nsdl.co.in/. 

Here enter the details of the PAN card you are using. After this, in section 11 you will have to enter the information of second PAN. By following the further process, you will also have to submit a copy of the second PAN card here.

What to do if PAN card is lost or stolen?

If your PAN card is lost or stolen somewhere. Apart from this, if the PAN card is torn, then in such a situation, before applying for a new PAN card, you will have to register an FIR regarding the old PAN card and bring it to the notice of the Income Tax Department that you do not have your old PAN card.

Many people use multiple PAN cards together for fraud, which is illegal. Therefore you should keep in mind all the things mentioned above.