The permanent account number or PAN is essential when someone files income tax returns at the end of a financial year. Any discrepancy in the PAN card details can result in penalties of Rs.10,000, under Section 272B of the Income Tax Act, 1961. Aadhaar card details are equally important while filing tax returns.
- Additionally, around 307.5 million Indians possess PAN cards, which are linked with their Aadhaar cards.
- Around 180 million individuals are still awaiting the linkage of these two important documents.
Such data reveals the importance of the PAN card as an identification document, along with its usage in other spheres, such as taxation. Loss of PAN can thus be stressful to handle. Fortunately, such an individual can reprint a duplicate PAN card online. One would need to follow a distinct procedure to initiate an application for the card.
How to Reprint Your Lost PAN Card Online?
Individuals can apply for a duplicate PAN card online conveniently. Here is the detailed process for the same –
Step 1: Navigate to the Tax Information Network (TIN) website belonging to the Income Tax Department.
Step 2: You can select the ‘Reprint PAN Card’ option on the homepage. Alternatively, navigate to the ‘Services’ option and choose the ‘PAN’ option to proceed.
Step 3: As soon as you select this option, a new webpage will open where you need to enter your PAN details, date of birth, and Aadhaar number.
Step 4: Tick mark the option which allows using Aadhaar number to reprint PAN.
Step 5: Pay the necessary fees required for the duplicate PAN card application. For domestic deliveries, you would need to pay a fee of Rs.50, while for international deliveries the cost of reprinting a PAN card is Rs.959.
Step 6: Complete the captcha code verification and submit.
Step 7: Select where you want to receive the OTP. Applicants can choose either mobile number or email for OTP verification. The email ID or phone number provided here must match the ones in the original PAN card application.
Step 8: Once all the details are entered, click the box verifying if you want the existing information on the reprinted version of your PAN card.
Step 9: Select the ‘Generate OTP’ option and look for the code in your email, registered phone number or both.
Step 10: Enter this OTP and click on submit. It concludes the duplicate PAN card online procedure.
Although re-issuing a PAN card is convenient, thanks to the simple online process, one does need to bear a fee as well. This charge is substantial for applicants who apply for duplicate PAN card while residing abroad.
A Wallet Care insurance policy, provided by Bajaj Finserv under its Pocket Insurance & Subscriptions, can help one avoid these additional expenses in the event of PAN card loss or theft. In such cases, policyholders can apply for a duplicate card issue as a coverage benefit, thereby avoiding these charges.
Offline PAN Card Reprint Process
Individuals can also choose to bypass an online process and proceed with an offline reprint of the application. Here are the steps to follow in such a case –
- Step 1: Acquire a form from IT PAN Service centres or TIN-Facilitation Centres.
- Step 2: Fill up this form with all pertinent details, such as the permanent account number, date of birth, and more.
- Step 3: Affix two passport-sized photos and sign them.
- Step 4: Attest the form by visiting a magistrate or a gazetted officer.
- Step 5: Submit the form along with the application fee at the counter of any of the centres from where you can acquire the form.
PAN Card Loss can Lead to Tax Fraud and Identity Theft
Before applying for a duplicate PAN card online, individuals who lose the card need to lodge an FIR at their nearest police station. Doing so should safeguard such individuals from any repercussions if others utilise the misplaced card to conduct illegal or fraudulent activities. Identity theft is another concern for anyone misplacing his/her PAN card.
- A survey reveals that around 4 out of every 10 Indian adults have been victims of identity theft.
- 63% of respondents in the study claimed that they were grossly unprepared against identity theft.
Individuals owning an identity assure cover is protected from the financial losses typically associated with identity theft. Opting for such insurance policies should ensure minimal liabilities for the victim of such crimes.
Another crucial factor to consider is whether one has multiple permanent account numbers to his/her name. Such an instance can occur in rare cases, leading to complications when calculating the individual’s tax liabilities. Moreover, holding multiple permanent account numbers is a criminal offence, punishable with fines payable up to Rs.10,000.
You can surrender the duplicate PAN card online whenever you discover such a discrepancy. Apart from eliminating the need to pay hefty fines, such a step can also guarantee protection against identity theft and hassles like tax fraud in your name. Additionally, availing a purse care plan can also limit such risks, preventing any financial loss as a result of such frauds.