National Securities Depository Limited (NSDL) is an Indian central securities depository based in Mumbai.It was established on 8 November 1996 as the first electronic securities depository in India with national coverage based on a suggestion by a national institution responsible for the economic development of India
PAN CARD - POWERED BY NSDL
NSDL is promoted by Industrial Development Bank of India Limited (IDBI) - the largest development bank of India, Unit Trust of India (now, Administrator of the Specified Undertaking of the Unit Trust of India) and National Stock Exchange of India Limited (NSE) - the largest stock exchange in India.Some of the prominent banks in the country have taken a stake in NSDL.
Pan Surrender Application:-
In case individuals have over one PAN card, they may penalised for the same as the government has mandated that PAN and Aadhaar cards will have to linked. As per Section 139A of Income Tax Act, 1961, an individual can hold only one PAN card. This section deals with PAN card eligibility. As per Section 272B of the Income Tax Act,
the income tax officer can impose a penalty of Rs.10,000 on an individual who has over one PAN card. However, in case individuals have more than one card, they can deactivate the extra card by visiting the NSDL online portal.