Have you ever been told by someone that your PAN card has become invalid and you believed him/her too? Well, this is probably the best time to know if you should believe such a person. The deadline for linking Aadhaar with PAN ends on March 31. And the market of rumours and confusions are hot. Some scamsters may even ask you to share PAN details, saying it has become invalid. Bet, beware of such talks. Here’s the fact: Your PAN card can never be INVALID!.
The official Income tax department website says, ” PAN obtained once is valid for lifetime of the PAN-holder throughout India. It is not affected by change of address or change of Assessing Officer etc.”
You can make changes as far as basic details such as address change are concerned. “However, any change in the PAN database (i.e. details provided at the time of obtaining PAN) should be intimated to the Income Tax Department by furnishing the details in the form for ‘Request For New PAN Card Or/ And Changes or Correction in PAN Data,” says the Income Tax department.
A question often does the round, especially among those who are new to the income tax net: Can I carry more than one PAN card? Here is the official response:
“A person cannot hold more than one PAN. If a PAN is allotted to a person, then he cannot apply for obtaining another PAN. A penalty of Rs. 10,000/- is liable to be imposed under Section 272B of the Income-tax Act, 1961 for having more than one PAN.
If a person has been allotted more than one PAN then he should immediately surrender the additional PAN card(s).”
Another important question that comes to every PAN card holder: Should I have to compulsorily file ITR if I have got PAN? The answer is NO. The official income tax department’s website says, “Return is to be filed only if you are liable to file return of income under section 139. It is not mandatory to file return of income after getting PAN. “