Income Tax-EWS

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Permanent Account Number (PAN): A unique 10-digit alphanumeric number issued by the Income Tax (IT) Department, the PAN card is used for many important jobs across the country. It is an important document that every citizen must have as their financial details have to be filled/shared for various purposes. However, one has to take care of a few essential things. A person can be fined Rs 10,000 for a minor violation.

PAN Card User Notice: To avoid legal trouble or financial loss, one needs to fill the 10-digit PAN number with utmost care. A person will have to pay a fine, if there is a spelling mistake while entering the PAN card details, as stated. In addition, if a person has two PAN cards, he has to pay a lot of money for it.

Fill the 10 digit PAN card number correctly: Apart from entering the 10 digit details correctly, one has to keep only one PAN card. If a person has two PAN cards, he has to pay fine.

the IT Department can cancel such PAN card and levy fine as penalty, as per rules. If there is a mistake in the PAN card, the bank account may be frozen. Therefore, one has to immediately submit the second PAN card to the department, following the prescribed guidelines.

Under section 272B of the IT Act, 1961, a person providing false information about PAN can be fined Rs 10,000 by the IT Department. This requirement is mainly applicable at the time of filing of Tax Return (ITR) or in other cases where PAN card details have to be entered.

Tdisaster PAN Card:

Often when people apply for a new PAN card, they don’t come on time and apply for another PAN card again. If he gets two PAN cards with same name and address, he has to submit one card. However, the numbers on two separate cards are different, but as per rules, a person must have only one PAN card.

How to present the second PAN card?

Both online and offline methods can be used to reset the second PAN. There is a PAN card submission form. It can be obtained from the income tax website by clicking on the request for new PAN card application and / and change or correction on the PAN Data link on the website.
After this, the form can be filled and submitted to the office of National Securities Depository Limited (NSDL). When submitting the second PAN card, send the card along with the letter. This can also be done online.

What is the fine of Rs 10,000 provisions?

Under section 272B of the Income Tax Act, 1961, a person may be fined Rs 10,000. So it is necessary that if two PAN acrds come in the name of a person, he should immediately submit one card to the department.

How is it thepply for PAN Card ccorrection oonline:

1) Visit Protean eGov Technologies Limited or UTIITSL portal

2) Fill the PAN Change Request Form online.

3) Mention your PAN number correctly

4) Select the checkbox next to the parameter you want to change.

5) If you want to change the spelling of your name, enter the correct spelling, and check the box on the left side.

6) Check all the details and submit the form.

7) Once your changes are confirmed, a 15-digit confirmation number will appear. Save this number as it will be needed for further communication or to track the status of your application.

8) Make the payment, print the acceptance, attach the necessary documents.

9) Submit to Income Tax Department PAN (Managed by Protean eGov Technologies Limited).

10) If you submit the documents on the UTIITSL website, you must submit the required documents to one of the UTIITSL offices in Mumbai, Kolkata, New Delhi, or Chennai.

How is it thepply for PAN Card ccorrection offline :

1) Download and print the PAN correction form.

2) Fill and send to your nearest Protean eGov Technologies Limited or UTIITSL center.

3) Submit the required documents.

4) While filling the details, remember to click the box on the left side for the details you want to change on your PAN card.

Use of PAN card:

If a person does transactions of Rs 2.5 lakh per year, PAN card is required. PAN is mandatory for companies with turnover above Rs 5 lakhs. PAN is required if you are buying a car, bike or other vehicle. PAN must be sold for immovable assets of more than Rs 10 lakhs. Also, PAN is required for all goods and services worth 2 lakhs.



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