PAN Surrender
Holding of Multiple PAN Attract Penalty under Section 272B of Income Tax Act. We provide PAN Surrender services in order to save you from penalty under section 272B.
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- Winding of Companies: After closure of companies the PAN allotted to such company need to be surrendered
- Winding of Firm / LLP: After closure of Firm / LLP, the PAN allotted to such firm or LLP need to be surrendered
- Death of individual: After death of individual, its last income tax return can be filed by the legal heir mentioning the name and details of legal heir and the income tax department acknowledge the death of individual and process the income tax return filed by the legal heir.
- Possessing of multiple PAN: Most of the persons by erroneously make multiple PAN card and are in possession of multiple PAN. In accordance with Income Tax Act 1961, section 139A of the Act clearly laid down that any person is authorized to possess one PAN only. Further in accordance with section 272B of the Income tax Act 1961, there is penalty imposed for an amount of INR 10,000 on possessing of multiple PAN.