How to cancel PAN card in 5 easy steps
Has your credit card or loan application been rejected? One reason could be two PAN cards against your name and lenders see this as an indicator of fraud, denying you loans or even credit card. Notably, In 11,46,796 cases, where multiple PANs were found to be allotted to one person, they were deleted or deactivated. If one applies for a fresh PAN card after losing his card, records will show that the person has two PAN numbers. As per government rules, one cannot apply for a credit card unless one has a PAN card. Mistakes can happen too. For instance, while applying for a new PAN number an individual may change the name by one initial or the date of birth by one day or one year in order to get a new PAN number and create a new identity. It is a BIG mistake. So, even if you are applying for a new PAN card, make sure you apply for a duplicate card and not a new one. But if you have ended up with 2 PANs, here is how to cancel one.
1. To cancel a PAN card, you should fill and submit PAN change request application form by mentioning the PAN which you are using currently on top of the form.
2. Fill form 49A for change or correction in PAN, mention the PAN you want to change.
3. Submit the form to the NSDLoffice along with a letter to the Income Tax assessing officer of your jurisdiction.
4. Mention details as per your PAN cards - the one you want to retain and the one you want to cancel.
5. Submit a copy of your PAN to the assessing officer. Get a copy of acknowledgement from the assessing officer.