My passport expires last month and there is a mistake in my name. Should I apply for a new one and surrender the old one?

NO, You cannot opt a new passport with different details than the previous one. You have apply for correction with sufficient proof that your real name is Mr. ABC and the old passport contains different one.
They might ask you to publish a notice in newspaper which is a routine work for many advertisement agencies and costs you less than 1000 rupees.
Hey , can you help?
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