What Happens If You End Up With More Than One PAN Number?

Understand the implications of having more than one PAN number. Know about the penalty, cancellation process, and consequences.

A Permanent Account Number (PAN) is a unique tax-identifier. Having more than one PAN number can lead to complications.

The PAN Number is the backbone of your financial identity in India. It’s used for everything from filing taxes to opening bank accounts.

The Aadhaar card and PAN card are two essential documents for every resident of India.

The Aadhaar card is a unique identification document that is crucial for accessing government schemes, opening bank accounts, and verifying identity.

On the other hand, the PAN card is specifically linked to financial transactions. It ensures smooth financial activities within the country, especially for taxpayers who require an active PAN to file income tax returns.

However, what happens if you accidentally end up with multiple PAN cards? Don’t panic! It’s a more common issue than you might think, but it’s crucial to address it quickly to avoid any penalties or hassles.

Permanent Account Number

Indian taxpayers must have a valid Permanent Account Number (PAN) for all financial activities. It acts as a key identifier, tracking your financial inflows and outflows.

A PAN is mandatory for paying income tax, receiving tax refunds, and communicating with the Income Tax Department. Your PAN is a unique 10-digit alphanumeric identifier issued by the Income Tax Department.

PAN Status Check	PAN Download
Income Tax Website	https://www.incometax.gov.in

PAN Number Status

Causes of Duplicate PAN Numbers

I mistakenly applied for a new PAN (I forgot the existing one).
I applied again because you didn’t get the first PAN on time.
Changed your name (marriage) and got a new PAN instead of updating the old one.
The Income Tax Department accidentally made a mistake and gave you two PANs.
In rare cases, someone might have gotten a PAN in your name to do something bad.

Consequences of Multiple PAN Numbers

Having more than one PAN card is illegal in India.
You can be fined ₹10,000 for having multiple PANs.
Banks may not approve loans if you have multiple PANs.
Tax payment complications

How to Cancel a Duplicate PAN Card

Got a second PAN by mistake? You can cancel it!
Do it online or in person.
Online: Go to the TIN Facilitation Center website and complete form 49A.
In-person: Visit your local Income Tax office and write a request letter.
Remember to bring your original PAN card (the one you want to keep) and a copy of the duplicate one.