Has your PAN Card expired? Have you ever checked the expiry date? So know how long it remains valid.
Pan Card expiry: Even after Aadhaar was made, it was made mandatory to link your PAN card with it, so that your financial history can be tracked. But, is there any expiry date for a PAN card? For how many days does a PAN card work as a valid document (PAN validity)?
A PAN Card is a document that is used as a financial transaction. From opening a bank account to filing an Income Tax Return (ITR), a PAN Card is a valid document. This is also used for KYC. PAN card is considered the biggest legal identity card. Even after Aadhaar was made, it was made mandatory to link your PAN card with it, so that your financial history can be tracked. But, is there any expiry date on the PAN card? For how many days does a PAN card work as a valid document? If you have not yet paid attention to the validity of the PAN card, then know how long will the PAN card remain valid.
Who issues the Pan Card?
The PAN card is issued by NSDL (National Securities Depository Limited). The PAN card is called a legal document because, with it all your financial transactions are tracked. PAN card is also used to prevent tax evasion. But, still, it is important to know its validity i.e. for how many days it remains valid.
When is the validity available?
The validity of a PAN card lasts for a lifetime. The PAN card can be canceled only after the death of the person or KYC can be updated at all the necessary places with the help of a death certificate. The PAN card expires only after the death of a person. The PAN card remains valid throughout life. The PAN card has a 10-digit alphanumeric number. The PAN number contains the information of the person who has the PAN card. Legally, a person can keep only one PAN card with him. There is a provision for imposing a fine for keeping more than one PAN card.
It is illegal to have more than one PAN.
According to the Income Tax rules, if anyone has more than one PAN and uses it, then it is illegal. Action can be taken against it. Under the provisions of Section 272B of the Income Tax Act 1961, a fine of Rs 10,000 can be imposed for keeping more than one PAN card. If you also have more than one PAN, then you can surrender it. You can surrender the PAN card both offline and online.
How to get a Pan Card?
PAN cards can be made online from home. First of all, you have to go to the e-filing portal and click on 'Instant PAN through Aadhaar'. After this, 'Get New PAN' has to be selected. You will be asked for your Aadhaar number and an OTP will be sent to the registered mobile number. Once the OTP is validated, you will be issued an e-PAN. You can also order your physical card.
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