PAN 2.0 Alert: The government has introduced PAN 2.0, a new initiative to streamline the PAN system using advanced technology. This system identifies duplicate PANs and tracks violations more efficiently. Holding multiple PANs may lead to penalties, as PAN 2.0 employs advanced detection logic to flag duplicate applications. Notably, users can download e-PAN cards via NSDL online.
PAN Card 2.0: Penalty For Extra PAN Card
As per Section 272B of the Income Tax Act of 1961, Indian citizens are prohibited from owning multiple PAN numbers. Possessing a duplicate PAN can result in a penalty of Rs 10,000.
PAN Card 2.0: Key Benefits
The project includes system modernization, QR code integration, a unified portal, improved security, and eco-friendly operations. A robust grievance redressal system further simplifies the taxpayer experience.
PAN Card 2.0 Initiative
This e-government initiative transforms taxpayer registration by enhancing PAN/TAN services and modernizing the digital experience for users.
How To Check For Duplicate PAN Card Issued?
Step 1: Visit the Income Tax e-Filing Portal at www.incometax.gov.in.
Step 2: Log in to your account or register if you are a new user.
Step 3: Navigate to the ‘Verify Your PAN Details’ section under PAN services.
Step 4: Enter your PAN, name, and date of birth to verify your details.
Step 5: If duplicate PANs exist, the system will notify you and provide steps to surrender one.
Why Check For Duplicate PAN Card Issued?
Fraudsters misuse duplicate PANs for GST fraud and fake companies, often without the original holder’s knowledge. It’s crucial to check for duplicate PANs in your name and have them deactivated promptly.
How To Surrender An Extra PAN Card?
Step 1: Go to the NSDL website and complete the ‘Changes or Corrections in Existing PAN Data/Reprint of PAN Card’ form.
Step 2: Enter their details in the checkbox to surrender additional PANs.
Step 3: Upload the required documents, pay the fee, and submit the form.
Step 4: Save the acknowledgement slip after successful payment for future reference.
Link Valid PAN to Aadhaar Card:
It is important to note that users should link their valid PAN to their Aadhaar card and update it across financial records, such as bank accounts, investments, and tax filings, to ensure compliance and seamless transactions.
