PAN Card Tips: When is there a need to surrender a PAN card? What is its process..

Like Aadhaar, a PAN card is also an important document. It is needed for everything from opening a bank account to filing income tax. But what will you do if there is some mistake in the PAN card or if you have more than one PAN card? In such a situation, you can surrender the PAN card. Know in which situations there is a need to surrender the PAN card and what is the way to surrender it.
When is it necessary to surrender the PAN card
If you have more than one PAN card.
If the PAN card is lost.
If your PAN card has been deactivated by the Income Tax Department.
If your PAN card has been issued with the wrong information.
If your PAN card belongs to a company or firm and it has closed.
If the PAN card belongs to a person who has died.
If you are shifting out of India.
Income Tax Department can take action on more than one PAN card.
If you have more than one PAN card, then you should submit one of them in time because if the Income Tax Department comes to know about it, then action can be taken against you. According to the rules of the Income Tax Department, if a person has two PAN cards, then he can be fined Rs 10,000 or he can have to serve a minimum sentence of 6 months, or both punishment and fine can also be given.
How to surrender if you have two PAN cards
You can surrender the PAN card both online and offline. To surrender online, you have to go to the NSDL website.
After this, from the Application Type drop-down, choose the Changes or Correction in existing PAN Data/Reprint of PAN Card (No changes in existing PAN Data) option.
Fill the form and submit it. After submitting the form, your request will be registered. After this, a token number will be sent to your email ID.
Note down the token number and continue the process by clicking on Continue with PAN Application Form given below. Now a new webpage will open. On this page, choose the option of Submit scanned images through e-Sign.
On the bottom left side of the page, you will have to fill in the details of the PAN card that you want to keep with you. Fill in the requested information, then choose the option of Next.
After this, upload the requested documents like photo, signature, address, identity card etc. Make payment wherever required. After payment, you will see a receipt to download. Download it and keep it safe.
Now send a copy of the receipt along with two photographs and other required documents to the NSDL office. Before sending the receipt, label the envelope with the Application for PAN cancellation and the receipt number.
How to surrender PAN card on the death of the holder
On the death of the PAN card holder, his family or relatives have to write a letter to the Income Tax Officer of the concerned area, which should contain the reason for surrendering the PAN card (death of the holder) and the death certificate. Apart from this, important information like name, PAN card number, date of birth, etc. will have to be given.
If you leave India and shift to another country, if there is wrong information in the PAN card, if the PAN card is lost or in any other situation, you can also meet the nearest Income Tax Officer of your area and apply to cancel it. In the application, the reason for surrendering the PAN card has to be given, along with all the necessary information and documents have to be provided.
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