PAN Card Users Alert! THIS mistake can make you pay a fine of Rs 10,000

New Delhi: The PAN card is a required document. No financial transaction may be completed without this card. Every financial transaction and the opening of a bank account necessitate it. You can't do any financial activity without it, from the bank to the office. The linking of a PAN card to an Aadhaar number is now required everywhere. Let us remind you that a mistake involving your PAN card can result in a fine of Rs 10,000.

Fill in the ten-digit PAN number printed on the PAN card carefully wherever you are inputting the PAN number. In this case, even a little misspelling or numerical error can result in a severe punishment.

Furthermore, even if you have two PAN cards, you may be subject to a large fine. Your bank account may be frozen as a result of this. As a result, if you have two PAN cards, your second PAN card must be submitted to the department right away. Section 272B of the Income Tax Act of 1961 also contains a provision for this.

The process of giving up your PAN is simple. This can be done in a variety of ways. It's available for download on the IRS website. You may get the form by going to the website and clicking on the link "Request For New PAN Card Or/ And Changes Or Corrections in PAN Data." Fill out the form and return it to any NSDL office.

Submit the second PAN card with the form when surrendering the first. You can also do this on the internet. This category includes two separate PAN cards issued in the same person's name and sent to the same address. If you have two PAN cards, you must surrender one of them.

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