Pancard

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sumit

sumit (Querist)
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27 January 2016 I have two pancard ....what is the procedure to submit one pancard....and what if I dont surrender

Ganeshbabu K

Ganeshbabu K (Expert)
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01 February 2016 Assessee who have more than one PAN should immediately Apply for surrender of additional PAN number(s) allotted to them as having more than one PAN may make them liable to a penalty of Rs. 10,000/-

Assessee can apply for surrender of PAN card by two methods.
1. Manually –
a. Write a letter to this effect to the assessing officer under whose jurisdiction you have been filing your returns. The letter must contain details such as your name, contact details, details of the PAN card to be retained, details of the duplicate PAN card(s) which you need to surrender, etc. Keep the acknowledgement copy of the letter that you have filed with the I-T department, stating that you are surrendering your additional PAN. That is sufficient as proof of surrender and no additional confirmation from the I-T authorities is required. On receipt of the acknowledgement, there is no need for you to wait for intimation from the income tax department considering that the PAN submitted has now been cancelled by them. The acknowledgment copy of the letter submitted will more than solve the purpose.
b. Manually Fill the Form No. 49A for change/Correction in correction in PAN and submit the same at your nearest UTI pan centers or NSDL TIN Facilitation centers.
2. Online –
a. Visit the Following Link and fill the detail in the online Form given at the link and following the instructions
http://incometax.sparshindia.com/pan/newPAN.asp
b. You can also surrender the pan online by filing a application “change in pan data ” through UTI pan centers or NSDL TIN Facilitation centers.In application fill spare pan number in Last row of the Form.