Whether you’re requesting a new PAN card due to losing it, needing to update information, or for a new ID photo, you need to know about these points:
- Applying online
- Owning more than one PAN card
Although you’re most likely panicking while reading this, all is okay. Once you’ve read these points you’ll feel at ease, so relax.
Firstly, it’s much easier to apply online for a new PAN card. And if you’re one who thinks talking to a person would be easier, remind yourself of all the times you were put on hold while having to listen to that awful out-dated tune over and over again.
Now you’ve come to your senses, you can apply online at pancardseva.co.in for a simple and convenient application. However, you will need your PAN number and if you don’t know it then you’ll require logging into the PAN verification system. Once you’ve put in your login details, your PAN number will be accessible in the file.
You will also need to fill out Form 49A: Application for Allotment of PAN.
The law on owning multiple PAN cards
It’s actually illegal in India to own more than one PAN card. Which means, if you apply for a replacement and later find your lost PAN card, you must cancel it.
To avoid a Rs 10,000 fine, submit your PAN card for cancellation by filling put the PAN correction form. It will have a ‘PANs inadvertently allotted’ section where you can request to cancel one of your PAN cards.
IMPORTANT: In section 139A of Income Tax Act, 1961, it states that one person can own only one PAN card. You can get fined if you fail to comply.
Payment of new PAN card
Of course, a new PAN card requires payment. It costs Rs 96 and you can pay this via check, demand draft, online or by credit or debit card. With this said, if your address is outside of India, you must pay Rs 962 and you can only pay via a demand draft.
Hopefully, applying for a new PAN card will go smoothly for you. Like and share this post if you found it useful.