LCI Learning

Share on Facebook

Share on Twitter

Share on LinkedIn

Share on Email

Share More


Step 1:- If you have been allotted an additional Permanent Account Number (PAN) which you wish to voluntarily surrender, you need to visit the Income Tax (I-T) departments website -incometaxindia.gov.in. Click on the icon surrender Duplicate PAN.

Step 2 :- To be doubly sure that your request for surrender has been registered, also 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. 
 

Step 3 :- Maintain 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. 
 

Step 4 :- 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. 
 

Step 5 :- Make sure that you surrender your additional PAN card before December 31, 2006 as there will be a penalty of Rs 10,000 levied per instance for quoting the wrong PAN. 


"Loved reading this piece by sandeep gangwar?
Join LAWyersClubIndia's network for daily News Updates, Judgment Summaries, Articles, Forum Threads, Online Law Courses, and MUCH MORE!!"






Tags :


Category Taxation, Other Articles by - sandeep gangwar 



Comments


update
Post a Suggestion for LCI Team
Post a Legal Query